ANALYSIS - Allendale, Inc released their estimates for the Cattle on Feed and Cold Storage reports, both due to be released on Friday, December 21 at 2 pm Central Standard Time, writes Sarah Mikesell, TheCattleSite senior editor.
Allendale expects November Placements to be 6.8 per cent lower than last year, noting feedlot margins remain negative. Their estimate represents 19 straight months of losses. Either in this report or the next, Allendale expects USDA may find placements close to last year or possibly higher. Poor winter wheat pastures are pushing calves into the feedlot. Cattle placed in November will be marketed from April through August.
Allendale anticipates a Marketing total 1.6 per cent lower than November of 2011. There was no calendar adjustment made this month.
Total Cattle on Feed as of December 1 will be 6.2 per cent lower than last year. This is down from the November 1 survey which found 5.3 per cent fewer cattle. Feedlot supplies are tightening due to low placements, not from over active marketings.
Allendale projects a 591 million pound total pork stock level for the end of November. The five year average is 489 million pounds for the end of November. The Allendale estimate represents a decrease of 15 million pounds from the previous month. The five year average month-to-month change for November is a 13 million pounds decrease.
Beef stocks, at 411 million pounds, are below the five year average of 444 million pounds. This month's number represents a 2 million pound increase from the previous month. The five year average change is for a 10 million pound increase.
|© Allendale, Inc|
Pork Belly stocks are estimated - in million pounds while Cattle on Feed is estimated as a percentage compared to last year.
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