Market News & Headlines >> September feedlot placements seen up, marketings down
Friday’s monthly USDA Cattle-on-Feed report is expected to show that the Oct. 1 U.S. feedlot inventory remained smaller than a year earlier, even though U.S. feedlot placements rose during September versus last year, while feedlot marketings fell.
Trade estimates of the Oct. 1 feedlot inventory average 99.4% of a year earlier in a range from 98.6%-100.0%, according to a survey of 10 analysts by Reuters News Service.
Pre-report expectations for September feedlot placements average 101.4% of a year earlier in a range from 97.5%-104.0%, while expectations for September feedlot marketings average 97.5% in a range from 97.0%-98.9%.
At the average of trade estimates, the Oct. 1 feedlot inventory would total 11.647 million head, 70,000 below a year earlier, but would still be the second largest of the past 10 years.
September feedlot placements at the average of trade estimates would total 2.258 million head, 31,000 above a year earlier and would be the largest for the month in 10 years.
September feedlot marketings at the average of pre-report estimates would total 1.800 million head, 46,000 below a year earlier, but still the second largest of the past 10 years. September marketings are expected to be down from last year largely because the month contained one less marketing day this year.