Cattle on Feed Shrink Back
18 March 2023 - 06:38AM
Dow Jones News
By Kirk Maltais
The Agriculture Department said Friday that U.S. cattle
inventories on feed through March 1 were down, although not quite
as much as expected by analysts for the month.
Total supplies of cattle on feedlots were 11.6 million head,
down 4% from a year ago, the USDA said in its monthly Cattle on
Feed Report. Analysts surveyed by The Wall Street Journal prior to
the report's release were expecting the inventories to be down by
nearly 5% versus this time last year.
Placements of cattle on feed also fell, totaling 1.73 million
head logged through Mar. 1, a drop of 7%. Analysts were expecting
placements to be down nearly 7%.
The USDA reported that the amount of cattle marketed for the
month ended Mar. 1 totaled 1.74 million head, which is off 5% from
last year's total. Analysts had forecast cattle marketed to be down
The most-active cattle contract trading on the CME closed down
0.3% to $1.565 a pound, and lean hog futures closed up 0.5% to
80.175 cents a pound.
To see related data, search "USDA Monthly Cattle on Feed Data"
in Dow Jones NewsPlus.
Write to Kirk Maltais at firstname.lastname@example.org
(END) Dow Jones Newswires
March 17, 2023 15:23 ET (19:23 GMT)
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