Bullish U.S. Cattle on Feed Report Shows 14 Percent Drop in PlacementsMon, 25 Mar 2013 10:13:35 CDT
Analysts are calling the latest USDA Cattle on Feed Report a very friendly report with a signficantly larger than expected drop in placements. The on-feed number was slightly lower than expected and the marketing's number was nearly on par with last year.
Jim Apel talked with Tom Leffler of Leffler Commodities after the report was released on Friday afternoon
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 March 1, 2013. The inventory was seven percent below the number on March 1, 2012.
Placements in feedlots during February totaled 1.48 million, 14 percent less than 2012. Leffler says that this placement number is really an astounding number- fully 12% below the three and the five year average for placements- it is the lowest February placement number in 18 years and should be "very price supportive later in the year."
Leffler's analysis of the Cattle on Feed Report is our focus on today's Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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