Chicago, IL (Oct. 17, 2017) - The following are Allendale, Inc. estimates for the coming Cattle on Feed and Cold Storage reports:
September Placements are expected to be 16.0% larger than last year at 2.198 million head. This is the largest September placement in six years.
It was exaggerated by the comparison against a low September 2016 estimate. K-State projects breakevens for October delivery fed cattle at $119.
That rises to $123 for December finishing. September placements supply the April through August slaughter period.
Allendale anticipates a Marketing total 2.1% larger than September 2016 at 1.769 million. This was the largest September total in seven years. This number was lowered due to a calendar adjustment this month.
Total Cattle on Feed as of October 1 is 6.2% over last year at 10.892 million. This is the largest October 1 total in five years.
Allendale projects a 593 million lb. total pork stock level for the end of September.
The five-year average is 609 million lbs.
Our estimate represents an increase of 17 million lb. from the previous month.
The five-year average month to month change for September is a 17 million lb. increase.
Beef stocks, at 502 million lbs., are over the five-year average of 453.
This month's estimate represents an increase of 26 million lbs. from the previous month.
The five-year average shows a 22 million lb. increase for this month.
Cattle on Feed is estimated as a percentage compared to last year. Cold Storage is reported in million lbs.