Trade survey predicts higher cattle placements
The number of cattle entering U.S. feed yards in September was predicted to be up 1 percent from last year, when placements were the lowest on record due to a spike in grain prices, according to a Wall Street Journal survey. The survey served as an interim substitute for the U.S. Department of Agriculture’s cattle-on-feed report that was postponed due to the lapse in government spending.
Costs for cattle feeders have cooled considerably since last year’s drought pushed prices to record highs, resulting in expectations for a larger number of animals to enter U.S. feedyards in the months to come.
However, Steve Wagner with CHS Hedging Inc. in Minnesota said ...
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