News

Allendale sees big cut in placements

Ahead of Friday’s USDA cattle on feed report, Allendale Inc. expects smaller placements against an increase in cattle on feed.

Placements are seen at 92% of a year ago due to the generally tight supply of cattle and marketings are pegged at 99.7% of a year ago.

The total number of cattle on feed as of October 1 is estimated at 103.1% of a year ago but that would be down on the month when compared to September’s numbers.

Also out Friday is the monthly cold storage update with Allendale expecting both pork and beef supplies to be up on the month but with the increases below the respective five year averages thanks to solid export demand.

The reports are out Friday, October 21 at 2 PM Central.