Market News & Headlines >> USDA Expected to Report Jump in Feedlot Placements
USDA is expected to report that U.S. feedlot placements surged during October, pushing the feedlot inventory back above a year earlier, when it releases its monthly Cattle-on-Feed report on Friday afternoon.
Trade estimates of October feedlot placements average 112.2% of a year earlier in a wide range from 96.2%-119.0%, according to a survey of eight analyst by Dow Jones Newswires. At the average of trade estimates, October feedlot placements would total 2.522 million head, 274,000 head above a year earlier, and would be the largest since 2007.
Pre-report trade expectations for the Nov. 1 feedlot inventory average 101.4% of a year earlier in a range from 98.2%-102.5%. At the average of trade estimates, the Nov. 1 feedlot inventory would total 11.856 million head, 164,000 head larger than a year earlier and would be the largest for the date since 2011.
Trade estimates of October feedlot marketings average 99.6% of a year earlier in a narrow range from 99.3%-100.1%. At the average of trade estimates, October marketings would total 1.879 million head and would be 8,000 head below a year earlier.