Smaller Cattle on Feed Inventory Says Beef Supplies Will Stay TightSmaller Cattle on Feed Inventory Says Beef Supplies Will Stay Tight
Larger-than-generally expected January placements boost Feb. 1 on-feed inventory above expectations, which will be bearish for fed cattle trade.
February 24, 2014
Friday's USDA Cattle on Feed Report points to tighter supplies, but not as tight as traders generally expected in advance of the report.
Placements in feedlots during January totaled 2.03 million, 9% above 2013. Traders expected roughly a 2.6% hike in placements. Larger-than-expected January placements pushed the Feb. 1 cattle on feed inventory to 10.760 million head, down 3% from Feb. 1, 2013. Traders expected the on feed inventory to be down about 5.2%.
January marketings, at 1.788 million, were 5% below 2013, not far out of line with the 4.6% reduction traders expected.
More articles to enjoy:
You May Also Like
The dollars and sense of sustainabilityFeb 18, 2023
Current Conditions for
New York, NY
Enter a zip code to see the weather conditions for a different location.