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Allendale,Inc. Releases Cattle on Feed and Cold Storage Estimates | Rural Radio Network

Allendale,Inc. Releases Cattle on Feed and Cold Storage Estimates

The following are our estimates for the coming Cattle on Feed and Cold Storage reports:

March Placements are expected 12.2% lower than last year at 1.859 million head. This would be the smallest March placement in 3 years. This stops 12 months in a row of higher than last year placements. Cattle feeding margins is the main reason for the decline. Finished cattle in March were seeing a $122 breakeven, still profitable. The concern comes with the April, May, and June finishing where breakevens increase to the $126 – $129 region due to those heavy fall feeder purchases. Of note, we expect a few months of below last year placements ahead. We will be compared against last year’s March – June period that saw 11% – 16% higher placements than last year. March placements supply the July through October slaughter period.

Allendale anticipates a Marketing total in March at 5.0% under last year for a total of 1.818 million. A 3.6% correction lower was made due to the calendar comparison.
Total Cattle on Feed as of April 1 comes to 7.1% over last year at 11.699 million. This is the largest April 1 total in twelve years.

Allendale projects a 591 million lb. total pork stock level for the end of March. The five-year average is 611 million lbs. Our estimate represents a decrease of 24 million lb. from the previous month. The five-year average month to month change for March is a 23 million lb. decrease.
Beef stocks, at 426 million lbs., are under the five-year average of 469. This month’s estimate represents a decrease of 34 million lbs. from the previous month. The five-year average shows an 11 million lb. decrease for this month.
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