Market News & Headlines >> October Feedlot Placements Seen Up from 2020
USDA is expected to report that October placements of cattle into U.S. feedlots were larger than a year earlier while October feedlot marketings were the smallest in four years when it releases its monthly Cattle-on-Feed report on Friday.
Trade estimates of October feedlot placements average 102.2% of a year earlier in a range from 98.5%-104.9%, according to a Reuters News Service survey of 10 analysts. At the average of estimates, placements would total 2.240 million head, 48,000 head above a year earlier.
Pre-report expectations for October feedlot marketings average 96.3% of a year earlier in a range from 95.7%-97.8%. At the average of trade estimates, October marketings would total 1.804 million head, 69,000 below a year earlier and the lowest for the month since 2017. However, marketings are expected to be down primarily because October held one less marketing day this year versus last.
USDA is expected to report that the supply of cattle in U.S. feedlots as of Nov. 1 was just marginally below a year earlier. Pre-report trade estimates of the Nov. 1 feedlot inventory average 99.8% of a year earlier in a range from 98.9%-100.4%. At the average of trade estimates, the Nov. 1 feedlot inventory would total 11.949 million head, 24,000 head below a year earlier.