Friday’s monthly USDA Cattle-on-Feed report is expected to peg the Oct. 1 feedlot inventory slightly below a year earlier on lower September feedlot placements and stronger monthly marketings.
Trade estimates of the Oct. 1 feedlot inventory average 99.7% of a year earlier in a range from 99.1%-100.1% according to a Reuters News Service survey of 11 analysts. At the average of trade expectations, the Oct. 1 feedlot inventory would total 11.545 million head, down a modest 59,000 head from a year earlier.
Trade expectations for September feedlot placements average 96.0% of a year earlier in a range from 94.2%-99.0%. At the average of expectations, September placements would total 2.118 million head, 80,000 below a year earlier
Pre-report expectations for September feedlot marketings average 102.0% of a year earlier in a range from 98.1%-103.4%. At the average of trade expectations, September marketings would total 1.696 million head, 32,000 head above last year.
