Market News & Headlines >> U.S. Feedlot Inventory Seen Lower
USDA’s monthly Cattle-on-Feed report, due out Friday afternoon, is expected to peg the U.S. feedlot inventory below a year earlier for the second straight month, despite a modest year-over-year increase in September feedlot placements.
Trade estimates of the Oct. 1 feedlot inventory average 98.9% of a year earlier in a range from 97.7%-99.8% according to a Reuters survey of 9 analysts. At the average of trade estimates, the Oct. 1 feedlot inventory would total 11.272 million head, 128,000 head below a year earlier.
Trade expectations for September feedlot placements average 101.6% of a year earlier in a range from 95.1%-107.6%, while estimates of September feedlot marketings average 100.9% of a year earlier in a range from 98.2%-101.5%.
If September feedlot placements were to come in above a year earlier, it would be the first such increase in five months. At the average of trade estimates, placements would total 2.084 million head, up 34,000 from a year earlier and 54,000 versus the five-year average for the month.
If September feedlot marketings were to come in at the average of trade estimates, they would total 1.734 million head, 15,000 head more than a year earlier and 22,000 above the five-year average for the month.