News

Analyst expects drop in cattle placements

USDA’s monthly cattle on feed update is out Friday and Allendale Inc. expects a big drop in placements.

Allendale sees a 7.2% decline in placements during July, noting that even with solid profit margins and lower feed costs, tighter feeder supplies are a challenge.

Marketings are expected to be up four tenths of a percent due to one more workday in July 2014 than in July 2013 and the total number of cattle on feed could be down 2.8% on the year.

The report is out at 3 PM Eastern/2 PM Central.