Market News & Headlines >> Feedlot Placements, Marketings Seen Down (2)
Friday’s monthly USDA Cattle-on-Feed report is expected to show that the U.S. feedlot inventory remained above a year earlier at the start of August with both July feedlot placements and feedlot marketings falling below a year earlier.
Trade estimates of the Aug. 1 feedlot inventory average 100.7% of a year earlier in a range from 100.0%-101.1%, according to a Reuters survey of 11 analysts. At the average of trade estimates, the Aug. 1 feedlot inventory would total 11.152 million head, 78,000 more than a year earlier.
Pre-report expectations for July feedlot placements average 98.5% of a year earlier in a range from 95.0%-101.3%. At the average of trade estimates, July placements would total 1.713 million head, 20,000 less than a year earlier.
Pre-report estimates of July feedlot marketings average 97.1% of a year earlier in a range from 96.0%-102.1%. At the average of trade estimates, July marketings would total 1.845 million head, 54,000 less than a year earlier and would be the lowest for the month in five years. July did contain one less market day this year compared with last year.