USDA Reports Drop in Cattle Placed on Market
By Kirk Maltais
The amount of cattle placed on feed in September fell from the
same timeframe last year, running counter to estimates of analysts
surveyed by The Wall Street Journal.
In its report Friday, the USDA says that 2.16 million head of
cattle were placed on feedlots through Oct. 1--which is down from
2.22 million head through September of last year. Overall, the
number of cattle on feed totaled 11.55 million head, down from
11.72 million head last year.
Analysts surveyed this month say that they expected the number
of cattle placed on feed to be 1.4% higher than last year, with
total cattle on feed being 99.3% of last year's total.
At the close of trading Friday, most-active live cattle futures
trading on the CME finished down 1% at $1.28325 per pound, while
lean hog futures closed up 0.2% at 73.325 cents per pound.
Write to Kirk Maltais at email@example.com
(END) Dow Jones Newswires
October 22, 2021 15:35 ET (19:35 GMT)
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