Market News & Headlines >> Feedlot Inventory Seen Down From Last Year

Friday’s monthly Cattle-on-Feed report from USDA is expected to show the U.S. feedlot inventory was below a year earlier for the first time in 10 months on Oct. 1 thanks to strong September feedlot marketings and lower September feedlot placements.

Trade estimates of the Oct. 1 feedlot inventory average 99.1% of a year earlier in a range from 98.2%-100.0%, according to a survey of 11 analysts by Reuters News Service.  At the average of trade estimates the Oct. 1 feedlot inventory would total 11.446 million head, 54,000 head below a year earlier, but would still be the third largest on record for the date since 1996.

Pre-report estimates of September feedlot placements average 96.4% of a year earlier in a range from 91.8%-99.0%. At the average of trade estimates, September feedlot placements would total 2.085 million head, 78,000 below a  year earlier and the lowest for the month in four years.

Pre-report expectations for marketings average 104.0% of a year earlier in a range from 103.0%-105.1%. At the average of trade estimates, September marketings would total 1.861 million head, 72,000 head above a year earlier and the largest for the month since 2003.