News

Allendale expecting increased placements

USDA’s next set of cattle on feed numbers is out Friday and Allendale Inc. expects month to month increases in placements and marketings.

Placements during December 2013 could be up 2.1% from December 2012 as lower feed costs helped to improve profit margins. Allendale does note cattle slaughter in February and March 2014 should be light due to low placements from May through September 2013, but adds adequate numbers should be available for late spring and summer. Marketings are expected to be up eight tenths of a percent and the total number of cattle on feed may be down 5.3%. That report is out Friday, January 24 at 3 PM Eastern/2 PM Central.

USDA’s monthly cold storage report is out Wednesday and while Allendale does expect beef supplies to be up on the month – that increase is expected to be below the five year average. Conversely, Allendale expects pork to see a larger than average increase. Allendale sees beef in cold storage on December 31 at 447 million pounds and projects pork at 551 million pounds. The report is out Wednesday, January 22 at 3 PM Eastern/2 PM Central.