Market News & Headlines >> U.S. Feedlot Placements Below Last Year Again in April
Friday’s monthly USDA Cattle-on-Feed report contained no big surprises for the market, confirming that placements of cattle in U.S. feedlots were below a year earlier for the eighth straight month in April but also indicating slow April feedlot marketings.
USDA pegged the May 1 feedlot inventory at 96.6% of a year earlier compared with pre-report trade estimates that averaged 96.5% in a range from 95.5%-97.1%, according to a Reuters News Service survey of 10 analysts. In actual numbers, the May 1 feedlot inventory totaled 12.022 million head, 414,000 head below a year earlier. The May 1 inventory was the smallest for the date in three years.
April feedlot placements were estimated by USDA at 95.8% of a year earlier compared with trade estimates that averaged 96.3% in a range from 91.8%-99.6%. In actual numbers, April placements totaled 1.748 million head, 76,000 below a year earlier. April placements were the smallest in three years.
USDA pegged April feedlot marketings at 89.9% of a year earlier compared with trade expectations that averaged 90.3% in a range from 89.0%-91.0%. In actual numbers, April marketings totaled 1.701 million head, 192,000 below a year earlier. April marketings were the smallest in three years.