Ahead of Friday’s USDA cattle on feed update, Allendale Inc. expects the report to show smaller placements on feed.
The McHenry, Illinois based analytical firm has placements during February as down 3.4% from a year ago due to poor weather conditions, a decline in corn price and an increase in the price of finished cattle.
February marketings are expected to be up 2.1% on the year as higher placements from last July through October continue to come to market.
The total number of cattle on feed as of March 1 is expected to be down 3.5% from a year ago, which according to Allendale would be the smallest total for the month in seven years.
The numbers are out Friday, March 19 at 2 PM Central.
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