Allendale Estimates Record August 1 Cattle on Feed Total Ahead of Upcoming USDA ReportTue, 20 Aug 2019 09:36:50 CDT
The following are Allendale, Inc.'s estimates for the coming Cattle on Feed and Cold Storage reports.
July placements are expected 1.4% under last year at 1.718 million head. This marks three months in a row of below last year placements. Concerns over feedlot profitability, and more restrained supplies of replacement feeders are two important reasons. July placements supply a portion of the January through April finished cattle supply. Kansas State University estimates fed cattle finishing in that period may run losses averaging $106 per head.
Allendale anticipates a Marketing total in July of 6.6% over last year at 1.997 million. This is the largest July marketing in eleven years. There was a 4% higher calendar adjustment for this month.
Total Cattle on Feed as of August 1 is 0.5% over last year at 11.143 million. This is a record August 1 total since the current data-series started in 1996.
Allendale projects a 634 million lb. total pork stock level for the end of July. The five-year average is 574 million lbs. Our estimate represents an increase of 11 million lb. from the previous month. The five-year average month to month change for July is a 2 million lb. decrease.
Beef stocks, at 397 million lbs., are below the five-year average of 443. This month’s estimate represents an increase of 3 million lbs. from the previous month. The five-year average for this month is an 11 million lb. increase.
* Cattle on Feed is estimated as a percentage compared to last year. Cold Storage is reported in million lbs. *
Source - Allendale, Inc.
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