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Agricultural News

Allendale Predicts Largest January Placements in 11 Years Ahead of Next Cattle on Feed Report

Wed, 22 Feb 2017 14:52:28 CST

Allendale Predicts Largest January Placements in 11 Years Ahead of Next Cattle on Feed Report The following are estimates for this week's Cattle on Feed and Cold Storage reports, by Allendale, Inc.:

December Placements are expected to be 18.2% larger than last year at 2.103 million head. This would be the largest January placement in eleven years. It would also show three months in a row of large placements that will impact the market from late spring through early fall. Finished live cattle prices traded from $118 - $122 in January. That was over the $110 - $118 in December. January placements supply the July through October period.

Allendale anticipates a Marketing total 6.3% larger than January 2016 at 1.689 million. This was the largest January marketing in three years. There was a 4% increase due to the calendar adjustment this month.

Total Cattle on Feed as of February 1 is 2.5% over last year at 10.977 million. That is an increase from the January 1 total that was 0.3% over one year ago.

Allendale projects a 528 million lb. total pork stock level for the end of January. The five-year average is 606 million lbs. Our estimate represents an increase of 51 million lb. from the previous month. The five-year average month to month change for January is a 78 million lb. increase. Our estimate represents the smallest end of January stocks in six years. Beef stocks, at 574 million lbs., are under the five-year average of 482. This represents an increase of 71 million lbs. from the previous month. The five-year average shows an 18 million lb. increase for this month.

Cold Storage stocks are estimated in million pounds while Cattle on Feed are estimated as a percentage compared to last year.

Source - Allendale, Inc.



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