Allendale Predicts Largest January Placements in 11 Years Ahead of Next Cattle on Feed ReportWed, 22 Feb 2017 14:52:28 CST
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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