Market News & Headlines >> Largest Dec. 1 Feedlot Inventory in 8 Years Expected
Friday’s USDA Cattle-on-Feed report is expected to peg November feedlot placements slightly above a year earlier and put the Dec. 1 feedlot inventory nearly 2% higher.
Trade estimates of the U.S. Dec. 1 feedlot inventory average 101.9% in a range from 101.3%-102.8%, according to a survey of eight analysts by Dow Jones Newswires. At the average of trade expectations, the Dec. 1 feedlot inventory would total 11.962 million head, 223,000 more than a year earlier and would be the largest since 2011.
Pre-report trade expectations for November feedlot placements average 100.9% in a range from 98.7%-107.1%, while expectations for November feedlot marketings average 97.3% in a range from 96.6%-98.6%.
Placements are expected to be up from last year despite the fact November held one less business day this year versus last. At the average of trade expectations, November feedlot placements would total 2.014 million head, 18,000 more than a year earlier.
If November marketings come in at the average of expectations, they would total 1.819 million head, 50,000 head than a year earlier and would be the smallest in three years. Marketings are expected to be down from last year largely due to this November having one less marketing day.