Market News & Headlines >> March Feedlot Placements Seen Down Sharply
Friday afternoon’s monthly USDA Cattle-on-Feed report is expected to show that placements of cattle on feed plunged in March along with fed cattle prices, while feedlot marketings surged, depleting the U.S. feedlot inventory.
Pre-report trade estimates of March feedlot placements average just 78.9% of a year earlier in a range from 54.6%-86.1%, according to a Bloomberg survey of 11 analysts. At the average of trade expectations, March placements would total 1.591 million head, 425,000 below a year earlier and would be the lowest on record for the month in USDA data going back to 1995.
On average, March feedlot marketings are expected to come in at 112.0% of a year earlier, with estimates ranging from 110.1%-112.7%. At the average of trade expectations, feedlot marketings would total 1.990 million head, up 113,000 from a year earlier and the largest for the month since 2000.
Trade expectations for the April 1 feedlot inventory average 94.9% of a year earlier in a range from 90.5%-96.0%. At the average of trade expectations, the feedlot inventory would total 11.343 million head, down 610,000 from a year earlier and the lowest for the month in 3 years.