Allendale, Inc. Releases Estimates for Upcoming USDA Cattle on Feed and Cold Storage Due FridayWed, 21 Feb 2018 12:07:28 CST
The following are estimates by Allendale, Inc. for the coming Cattle on Feed and Cold Storage reports due out by USDA this Friday afternoon:
January Placements are expected 0.4% under last year at 1.973 million head. There have been 10 months in a row of higher than last year placements as cow/calf producers end expansion plans. This report may stop that 10 month long streak. Finished cattle from January through March are estimated with a $123 breakeven according to Kansas State University. This increases to $127 and $130 for April and May. From June on out, $120 - $124 breakevens are noted. January placements supply the June through September slaughter period.
Allendale anticipates a Marketing total in December at 5.5% over last year for a total of 1.847 million. This would be the largest January in five years. There was one more weekday January 2018 than January 2017. This artificially increased the actual number.
Total Cattle on Feed as of February 1 is 8.5% over last year at 11.507 million. This is the largest February 1 total in six years.
Allendale projects a 540 million lb. total pork stock level for the end of January. The five-year average is 594 million lbs. Our estimate represents an increase of 49 million lb. from the previous month. The five-year average month to month change for January is a 68 million lb. increase.
Beef stocks, at 492 million lbs., are over the five-year average of 485. This month's estimate represents an increase of 2 million lbs. from the previous month. The five-year average shows a 10 million lb. increase for this month.
Source - Allendale, Inc.
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