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Cattle on feed categories should be down on year

 

The USDA’s monthly cattle on feed report is out Friday and Allendale Inc. expects multi-year lows in a couple of the major categories, reflecting the continued tight domestic supply and poor feeding margins.

Placements onto feed during March are expected to be down 3.9% from a year ago, potentially the smallest total for the month in seven years. Marketings are also expected to be down 3.8% on the year. If realized, that would be the smallest March total since the series of reports started in 1996. Allendale expects the total number of cattle on feed in the U.S. as of April 1st to be 1.2% below last year.

The report is out Friday, April 24th at 3 PM Eastern/2 PM Central.