Home / Markets / Marketeye / Victor: Cattle placements seen up, marketings down

Victor: Cattle placements seen up, marketings down

07/20/2010 @ 11:00pm

June Placements are expected to be 5.1% larger than last year. Cattle feeders averaged profits on out-going marketings of $29 per head in June. This makes it five months in a row of feedlot profits. Additionally, during June corn prices were lower. The July corn futures contract averaged 347 1/2 in June compared with 368 1/4 in May. Cattle placed in June will be marketed from October through February.

Allendale anticipates a Marketing total 0.7% smaller than June of 2009. There is no calendar adjustment this month. Feedlots are working off the lower placements posted from November through February.

Total Cattle on Feed as of July 1 will be 1.7% larger than last year.

Allendale projects a 428 million lb total pork stock level for the end of June. Our estimate implies a 20 million lb decrease from the previous month when typically stocks decline by 33 million lbs.

By Joe Victor, Allendale

CancelPost Comment
MORE FROM MIKE MCGINNIS more +

Soybeans Close Higher, Corn Lower By: 08/18/2014 @ 8:39am DES MOINES, Iowa (Agriculture.com)--After starting lower, the CME Group soybean market finished…

Corn Market Seen Higher Monday By: 08/18/2014 @ 8:08am On Monday, the CME Group's corn, soybean, and wheat markets are expected to start mostly…

Summing Up a Head-Scratcher of a Grain… By: 08/15/2014 @ 12:46pm Traders end the week the same way they started it, by scratching their heads. Confusion reigned…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
CME Group and 4-H's Risk Ranch