Allendale, Inc. Releases Cattle on Feed Estimates

For Immediate Release
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Allendale, Inc. Releases Cattle on Feed Estimates

CHICAGO, IL. (May 16, 2024) – The following are our estimates for the coming Cattle on Feed report.

April placements are expected -6.5% from prior year at 1.644 million head. This would be the lowest April in-flow in four years. Placements have been below last year levels in five of the past six months. April placements determine a part of October through December fed cattle supply. Kansas State University estimates finishing cattle during this period require a $194 breakeven.
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Allendale anticipates a Marketing total in April +8.6% from last year at 1.848 million. This was exaggerated by one more weekday but one less Saturday than the prior year.

Total Cattle on Feed as of May 1 is estimated at 11.565 million, -0.4% from last year. The breakdown is very divergent. Cattle on Feed for >120 days, a general measure of finished cattle supplies, is estimated at 6.450 million head. This is the largest computed number for this time of the current dataset that started in 1996. 56% of the feedlot is finished or near-finished cattle. Cattle on Feed for <120 days, 5.116 million, is the smallest computed number of this dataset back to 1996.

For questions and comments, please contact Rich Nelson, Chief Strategist at 800-262-7538 or rnelson@allendale-inc.com.

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