Agricultural News
Allendale Shares Their Latest Estimates for Cattle on Feed, Cold Storage and Cattle Inventory Reports
Wed, 25 Jan 2017 11:39:17 CST
The following are estimates for this week's Cattle on Feed and Cold Storage reports, calculated by Allendale, Inc.:
December Placements are expected to be 8.1% larger than last year at 1.651 million head. This would be the largest December placement in three years. Finished live cattle prices rose from $112 to $118 during this time. December placements supply the May through September period.
Allendale anticipates a Marketing total 9.2% larger than December 2015 at 1.828 million. This was the largest December marketing in six years. There was a 4% reduction due to the calendar adjustment this month.
Total Cattle on Feed as of January 1 is 1.6% smaller than last year at 10.575 million. That is a decrease from the December 1 total that was +1.4% under one year ago.
Allendale projects a 512 million lb. total pork stock level for the end of December. The five-year average is 528 million lbs. Our estimate represents a decrease of 9 million lb. from the previous month. The five-year average month to month change for December is a 3 million lb. decrease. Beef stocks, at 533 million lbs., are above the five-year average of 464. This represents an increase of 1 million lb. from the previous month. The five-year average shows a 14 million lb. increase for this month.
The bi-annual Cattle report, known unofficially as Cattle Inventory, is a complete breakdown of all cattle in the U.S. as of January 1. The industry uses it to shed light on the long term changes at the cow/calf level, the base producer.
- Beef cow numbers rose between January 1, 2016 and January 1, 2017 as those heifers bred in 2015 gave birth in 2016.
- Liquidation has begun however. Beef cow slaughter in 2016 ran 14% over last year.
Next year's report, as of January 1, 2018, will show a change in the total beef cow herd.
Click here to view charts illustrating this information.
Source - Allendale, Inc.
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