Allendale Shares Estimates for Upcoming USDA Cattle on Feed Report Scheduled for This FridayTue, 21 Aug 2018 12:39:51 CDT
The following are Allendale, Inc.'s estimates for the coming Cattle on Feed and Cold Storage reports scheduled for release this Friday, August 24th at 3:00 p.m. ET:
July Placements are expected 8.7% over last year at 1.756 million head. This is the largest July placement in six years. It would also mark three months in a row of higher than last year placements. High placements have been seen despite profitability concerns. Kansas State estimates marketings of July finished cattle lost $109 per head. Losses are expected to continue through February.
Allendale anticipates a Marketing total in July at 1.2% under last year for a total of 1.763 million. This ends three months in a row of higher than last year marketings.
Total Cattle on Feed as of August 1 comes to 5.8% over last year at 11.224 million. That is a record August 1 total since the 1996 start of the current data-series.
Allendale projects a 562 million lb. total pork stock level for the end of July. The five-year average is 573 million lbs. Our estimate represents an increase of 2 million lb. from the previous month. The five-year average month to month change for June is a 4 million lb. decrease. Beef stocks, at 450 million lbs., are over the five-year average of 438. This month's estimate represents an increase of 2 million lbs. from the previous month. The five-year average shows no change for this month.
Source - Allendale, Inc.
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