USDA could report lower cattle placements
The USDA’s next Cattle on Feed report could show a sharp year to year dip in placements into feedlots.
On average, analysts see a 7.6% decline in placements from February 2019 to February 2020 on improving pasture conditions and concerns about profitability.
Marketings could be up 5.6% on the year as heavier placements from last year are slaughtered and packers try to meet demand expectations.
The total number of cattle on feed on March 1st is expected to be 0.3% higher.
The report is out Friday at 3 Eastern/2 Central.