Allendale Analysts Estimate On Feed Placements Over 4% Above Last Year Ahead of USDA ReportFri, 16 Nov 2018 11:37:01 CST
On Wednesday, November 21st at 11:00 AM CST, the USDA will release the monthly Cattle on Feed and Cold Storage reports. The following are our estimates:
October placements are expected 4.3% over last year at 2.496 million head. This is the largest October placement in eight years. Placements were higher than last year in four of the previous five months. October placements supply a portion of the late May through September finished cattle supply. Kansas State estimates a $75 loss per head on finished cattle last month in October.
Allendale anticipates a Marketing total in October at 3.4% over last year for a total of 1.862 million. This is the largest October marketing in 11 years.
Total Cattle on Feed as of November 1 comes to 5.6% over last year at 11.961 million. That is the largest November 1 total in twelve years and the second largest since the current data series began in 1996.
Allendale projects a 585 million lb. total pork stock level for the end of October. The five-year average is 580 million lbs. Our estimate represents a decrease of 4 million lb. from the previous month. The five-year average month to month change for October is a 27 million lb. decrease.
Beef stocks, at 510 million lbs., are over the five-year average of 474. This month’s estimate represents an increase of 2 million lbs. from the previous month. The five-year average for this month is a 7 million lb. increase.
Source - Allendale, Inc.
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