LMIC's Jim Robb Predicts Friday's Cattle on Feed Report Placements Will Draw Significant AttentionWed, 19 Sep 2018 11:19:29 CDT
USDA is set to release its monthly Cattle on Feed report this Friday and like so many of these reports in recent months, according to Livestock Marketing Information Center Director Jim Robb, all eyes on this report will be focused on the number of placements recorded during August up to September 1st.
“I think that is the crux of the story,” Robb said. “We have placements up 6.6 percent year-over-year. A month or two ago, we would not have anticipated that.”
Robb says the industry has been aggressively placing cattle over the past three or four months. While this is an extremely large figure, Robb says the numbers still fall short compared to those during August of 2011, noting that the current calf crop on tap is very similar to the one producers raised in 2010-11 in terms of total quantity of animals coming into the marketplace. On the other side of things, Robb says marketings show that feedlots have remained very current as well, very much in line with what the trade observed last year, which Robb described as “superb.” He expects that trend to continue this year. Overall, he estimates those numbers together leave an on-feed inventory of up five to six percent from a year ago for this report.
“This is a report that I think will get a lot of attention,” he said. “I think maybe the pre-report estimates will have a pretty wide range reflecting the uncertainty from analysts.”
Listen to Robb share with Radio Oklahoma Ag Network Farm Director Ron Hays his pre-report predictions for the upcoming USDA Cattle on Feed report, on today’s Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News