Market News

Allendale sees smallest May 1 cattle on feed total in four years

Ahead of Friday's USDA cattle on feed update, Allendale Inc.sees an increase in feedlot placements. The McHenry, Illinois based analytical firm has placements up 6.5% from a year ago, the second month in a row with higher placements. Allendale says that's due to concerns over profitability easing at least slightly.

Marketingsare expected to be down 4.8% as the lower placements from fall and winter go to market. The total number of cattle on feed is seen as down 2.9%, which would be the smallest May 1 total in four years.

The numbers are out at 2 PM Central.