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Cattle placements jump 7%
Placements of cattle onto feed during April were up 7% on the year at 1.664 million head, when most analysts had been expecting a decline. Allendale says feeding margins were in positive territory for the first time in nearly a year and a half and most of those placements were cattle weighing more than 700 pounds. Those cattle will head to slaughter from September through November.
Marketings and the total number of cattle on feed were in-line with estimates and both up 1%, at 1.658 million head and 10.783 million head, respectively.
The numbers look negative for live and feeder cattle futures.
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