The monthly USDA Cattle on Feed report is due out Friday, June 24. It will look at the total number of cattle on feed, the number of cattle placed in feedlots and the number of cattle marketed out of feedlots for May 2016. Jim Robb, director of the Livestock Marketing Information Center, anticipates strong numbers in both the placement and marketings columns.
“Marketings should be up 4 to 5 percent from a year ago. We have one more day, but that’s still a good marketing rate,” he says. “Placements we have up about 9 percent year-over-year - that’s in the range of the pre-report estimate.”
Robb says a lot of cattle coming off wheat graze-out programs in the Southern Plains created a placement bulge last month. He also says very modest placement numbers in May 2015 combined with a large 2015 calf crop are contributing to the increase in placements.
Robb anticipates the overall cattle on feed inventory should be up about 2 percent from a year ago.
In addition to the Cattle on Feed report, the USDA Hogs and Pigs report will be released June 24 as well. Robb expects a fairly neutral report.
“We expect the overall hog and pig inventory and most of the categories to be up a rather modest 1 to 2 percent year-over-year - pushing mostly toward 1 percent year-to-year increases,” he says.
Overall, Robb says beef is a little better positioned in the retail case this year compared to last year.
“I think that will continue to be a bit of the story as we move through the summer months,” he says
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