Cattle on Feed Estimates November 9, 2023
For Immediate Release
Allendale, Inc. Releases Cattle on Feed Estimates
CHICAGO, IL. (November 9, 2023) – The following are our estimates for the coming Cattle on Feed report.
October placements are expected +2.7% from prior year at 2.157 million head. This would represent the second month in a row of higher inflows. October placements determine a part of April through September fed cattle supply. One major theme for the cattle complex has been a changed placement pattern. Over six months now, May – October, inflows will have run +0.5% from one year ago. Kansas State University estimates May and June finishing cattle require a $187 breakeven.
Allendale anticipates a Marketing total in October -2.8% from last year at 1.753 million. This would be the smallest October marketing in seven years.
Total Cattle on Feed as of November 1 is estimated at 11.927 million, +2.0% from last year.
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USDA CATTLE ON FEED REPORT |
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|
Allendale Estimate |
|
|
ON FEED NOV 1 |
102.0 |
|
PLACEMENTS |
102.7 |
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MARKETINGS |
97.2 |
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|
|
Cattle on Feed is estimated as a percentage of one year ago.
For questions and comments, please contact Rich Nelson, Chief Strategist at 800-262-7538 or rnelson@allendale-inc.com.
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