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Agricultural News

Allendale Expects Largest Cattle on Feed Placements for November in Twenty Years in the December Report

Tue, 17 Dec 2019 15:50:24 CST

The following are estimates from Allendale for the upcoming Cattle on Feed and Cold Storage reports that will be released in the next few days- Cattle on Feed will be released on Friday, December 20th and the Cold Stoarge Report will be out on Monday, December 23rd..

"November placements are expected 7.1% over last year at 2.138 million head. It would be the largest December placement in twenty years. This would mark three months in a row of higher than last year placements. November placements supply a portion of the June through September 2020 finished cattle supply. Kansas State University estimates fed cattle breakevens for that time at $119 per cwt.

"Allendale anticipates a Marketing total in November 2.5% under last year at 1.822 million. The original estimate was lowered by 2.2% due to the calendar adjustment.

"Total Cattle on Feed as of December 1 is 2.8% over last year at 12.066 million. This estimate is the largest in twelve years for this period.


For the upcoming Cold Storage Report- "Allendale projects a 573 million lb. total pork stock level for the end of November. The five-year average is 516 million lbs. Our estimate represents a decrease of 42 million lb. from the previous month. The five-year average month to month change for November is a 65 million lb. decrease.


"Beef stocks, at 454 million lbs., are under the five-year average of 488. This month's estimate represents a decrease of 13 million lbs. from the previous month. The five-year average for this month is a 1 million lb. decrease."




   

 

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