Market News & Headlines >> Feedlot Inventory Seen Down
Friday afternoon’s monthly USDA Cattle-on-Feed Report is expected to show the Jan. 1 feedlot inventory down 2.1% from a month earlier and more than 6% from a year earlier on lower December feedlot placements and active marketings.
Trade estimates on the supply of cattle on feed as of Jan. 1 average 93.8% of a year earlier in a range from 92.5%-94.7%, according to a survey of 10 livestock analysts. Estimates of December feedlot placements average 97.7% of a year earlier in a range from 91.4%-102.1%, while estimates of December feedlot marketings average 102% of a year earlier in a range from 97.7%-104.5%.
If the Jan. 1 feedlot inventory meets the average of expectations, it would be the smallest since 1996 at 10.499 million head and would be down 694,000 head from a year earlier and 226,000 head from Dec. 1.
Should December feedlot placements match the average of expectations, they would be the smallest for the month in four years and would be down 38,000 head from a year earlier and 256,000 head from November.
December feedlot marketings at 102% of a year earlier would be up 35,000 head from a year earlier and 99,000 head from November.