Leffler Sees Little Influence from Latest Cattle on Feed ReportFri, 19 Sep 2014 15:54:40 CDT
The latest cattle on feed report held few surprises. The US Department of Agriculture released the latest report Friday afternoon. Tom Leffler of Leffler Commodities told the Radio Oklahoma Network Friday afternoon this report came in close to industry estimates, so he looks to see very little effect from this report. Click on the LISTEN BAR below for Leffler's full analysis on the report.
The number of cattle on feed in the US was down one percent below last year. As of September first, the US had 9.8 million cattle on feed. Leffer said this is the second time this year that the number of cattle on feed came in below 10 million head and only the third time in the past 38 months being below 10 million head.
Placements for August totaled 1.72 million, which was three percent below 2013. Net placements were 1.65 million head. For the month of August placements are the lowest since the series began in 1996. Leffler said August placements were 10.3 percent higher than the July placements.
During August, placements of cattle and calves weighing less than 600 pounds were 410,000, 600-699 pounds were 280,000, 700-799 pounds were 395,000, and 800 pounds and greater were 635,000.
Marketings of fed cattle during August totaled 1.69 million, 10 percent below 2013. August marketings are the lowest since the series began in 1996. Other disappearance totaled 66,000 during August, 32 percent above 2013.
"Overall it looks we are going to see a cattle on feed report that will have very little influence on the markets come 9:05 Monday morning," Leffler said. "We're probably going to market seeing what kind of cash trade saw on Friday afternoon and exactly how many cattle we moved at those price levels."
USDA will release a cold storage report Monday afternoon at 2pm CT.
CLICK HERE for the full USDA September Cattle on Feed Report.
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