Agricultural News
Cattle On Feed Report Better This Week Than Expected
Fri, 17 Jun 2011 15:57:56 CDT
In this week's cattle on feed report, Tom Leffler of Leffler Commodities, says this week was a much friendlier report than what was expected. The trade was looking for on feed to be at 105.5 percent and it came in at 104 percent, which he says is friendly. Leffler says with this report having the highest marketing number of over 2 million head since July of 2008.
Leffler says there was a very big rally in the cattle on feed market this week with August live cattle gaining $6.27 and August feeder cattle gaining $9.02 this week. As we move further into the summer months, Leffler says the drought has had an effect on placement numbers and predicts the drought to still have an effect in the future.
Cattle and calves on feed for slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 10.9 million head on June 1, 2011. The inventory was 4 percent above June 1, 2010.
Placements in feedlots during May totaled 1.81 million, 11 percent below 2010. Net placements were 1.73 million head.
During May, placements of cattle and calves weighing less than 600 pounds were 415,000, 600-699 pounds were 355,000, 700-799 pounds were 480,000, and 800 pounds and greater were 560,000.
Marketings of fed cattle during May totaled 2.00 million, 7 percent above 2010.
Other disappearance totaled 80,000 during May, 18 percent below 2010.
Click on the LISTEN BAR below to hear the rest of Keith Merckx and Tom Leffler's conversation on the cattle on feed report.
Click here to read the cattle on feed report from the USDA.
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