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Cattle placements greater than expected
When USDA released its official count of cattle on feed last week, there was a collective gasp over the number of cattle that have been placed into feedlots in the last month. The placements number is more than what analysts had expected it would be. Ron Plain, a livestock economist for the University of Missouri says the jump could be the result of severe drought in the Southern Plains causing cattlemen to move animals into feedlots earlier than they normally would. Plain, however, remains confident in the cattle business, but he says “the impact is going to be that the increase in cattle prices might not be quite as dramatic as we expect,” but adds, “even with the larger numbers it still looks to be highly profitable.”
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