Market News & Headlines >> March Feedlot Placements Seen Up Vs. 2018
Thursday afternoon’s monthly USDA Cattle-on-Feed report is expected to show the supply of cattle in U.S. feedlots remained larger than a year earlier at the start of April following larger March placements.
Trade estimates of the April 1 feedlot inventory average 101.7% of a year earlier in a range from 100.4%-102.2%, according to a survey of 11 analysts by Reuters News Service.
At the average of trade expectations, the U.S. feedlot inventory would total 11.928 million head, 199,000 head larger than a year earlier and would be the largest on record for the date in the current USDA data series going back to 1996.
Pre-report estimates of March feedlot placements average 103.4% of a year earlier in a range from 97.9%-106.0%, while estimates of March feedlot marketings average 96.9% of a year earlier in a range from 95.7%-98.4%.
At the average of trade expectations, March feedlot placements would total 1.986 million head, 65,000 head more than a year earlier and would be the third largest for the month behind 2017 and 2000.
March feedlot marketings at the average of trade expectations would total 1.783 million head, 57,000 less than a year earlier and would be the smallest for the month in three years. March marketings are expected to be down, however, mainly because the month contained one less marketing day than it did in 2018.