Allendale Expects On Feed Numbers to Remain Higher than Year Ago Levels in Next Cattle on Feed ReportWed, 18 Jan 2012 06:55:15 CST
The January Cattle on Feed Report will be released by the US Department of Agriculture on Friday, January 20th at 2:00 PM central time, after the cattle futures markets are closed for the week. Allendale has released their pre- report estimates, according to their Director of Research, Rich Nelson, and here are the highlights of what the company expects in the Friday release:
"December Placements are expected to be 4.0% smaller than last year. We expect smaller supplies of medium and heavy feeders to offset continued liquidation in the South. Cattle placed in December will be marketed from May to September.
"Allendale anticipates a Marketing total 1.7% higher than December of 2010. There was a 1.5% adjustment made due to days on the calendar in that month. In addition, we have adjusted our estimate to reflect the discrepancy between USDA's COF marketing number and actual steer and heifer slaughter over recent months.
"Total Cattle on Feed as of January 1 will be 2.8% larger than last year."
Allendale also has compiled a pre-report estimate for the USDA Cold Storage report for pork. According to Nelson, " Allendale projects a 493 million lb. total pork stock level for the end of December. This is just over the five year average of 481 million lbs. It implies a 1 million lb. drawdown from the previous month. December typically sees a 3 million lb. drawdown. Beef stocks, at 443 million lbs., are below the five year average of 466. The change from last month is a 6 million lb. increase. The five year average change is a 2 million lb. drawdown."
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