Market News & Headlines >> Feedlot Placements and Marketings Seen Up Sharply
Friday’s monthly USDA Cattle-on-Feed report is expected to show that August feedlot placements and marketings were both up double digits from the record low levels of a year earlier, leaving the Sept. 1 feedlot inventory about 1% larger than last year.
Trade estimates of August feedlot placements average 112.6% of a year earlier in a range from 108.6-118.0%, while estimates of feedlot marketings average 116.7% in a range from 112.3-118.0%, according to a survey of 10 livestock analysts by Reuters News Service.
Pre-report expectations for the Sept. 1 feedlot inventory average 101.1% of a year earlier in a range from 100.3-101.9%. At the average of trade estimates, the Sept. 1 feedlot inventory would be 10.098 million head, 112,000 above a year earlier, and the largest for the date in four years.
August placements at the average trade estimate would total 1.838 million head, up 206,000 from a year earlier and would be the largest in four years. If August feedlot marketings meet the average of trade expectations, they would total 1.853 million head, 265,000 more than a year earlier and they would be the largest in three years.