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Allendale, Inc. Releases US Cattle on Feed, Cold Storage Estimates

18 July 2013
Allendale Inc.

Allendale, Inc has released their expectations for USDA's Cattle on Feed and Cold Storage reports. The Cattle on Feed report is due for release on July 19 at 2 pm CDT; Cold Storage is due to be released on July 22 at 2 pm CDT.

June Placements are expected to be 10.7% lower than last year. Available feeder supplies are smaller than last year. USDA's feedlot margin computation suggests 26 months in a row of losses. Cash corn in Western Kansas rose from $6.98 per bushel in May to $7.16 in June.

Cash cattle prices fell from $125 in May to $121 in June. Cattle placed in June will be marketed from November through February.

Allendale anticipates a Marketing total 4.7% lower than June of 2012. There was one less weekday in June 2013 than June 2012.

Total Cattle on Feed as of July 1 will be 4.0% smaller than last year. This would be smaller than the June 1 survey which showed 3.1% fewer cattle.

Allendale projects a 627 million lb. total pork stock level for the end of June. The five year average is 522 million lbs. for the end of June. Our estimate represents a decrease of 35 million lbs. from the previous month. The five year average month to month change for June is a 37 million lb. decrease.

Beef stocks, at 470 million lbs., are above the five year average of 428. This month's number represents an 8 million lb. decrease from the previous month. The five year average change is for a 2 million lb. decrease.

**Pork Belly stocks are estimated - in million pounds while Cattle on Feed is estimated as a percentage compared to last year.

Allendale Cattle On Feed Estimates

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