July Placements are expected to be 6.4% lower than last year. This would be the lowest July placement since the history of the current data series (1996). USDA's cattle feeding margin ended the month with a strong $170 per head profit on outgoing cattle (10 months in a row). Corn averaged $4.16 in Western Kansas in July ($4.68 in June, $3.73 in July 2013). July placements help supply the December through March slaughter period.
Allendale anticipates a Marketing total 6.4% lower than July 2013. There was no calendar day adjustment for this particular month.
Total Cattle on Feed as of August 1 now totals 2.2% under last year. That is a slight increase over the July 1 total of 2.4% under last year.
Allendale projects a 513 million lb. total pork stock level for the end of July. The five year average is 496 million lbs. for the end of July. Our estimate represents a decrease of 25 million lb. from the previous month. The five year average month to month change for July is a 33 million lb. decrease. Beef stocks, at 342 million lbs., are below the five year average of 434. This month's number represents a 16 million lb. drawdown from the previous month. The five year average change is a 4 million lb. decrease.
Allendale is currently conducting our 25th Annual Producer Yield Survey. Producers make this survey a success year after year. If you can participate, give us a call at 800-262-7538 or visit us online at www.allendale-inc.com.
USDA Cattle On Feed Report for release on 8/22/2014 @ 2:00 PM
On Feed July 1 97.8
USDA Cold Storage Report for release on 8/22/2014 @ 2:00 PM
Last Last ALLENDALE
Pork Stocks July 31 543.668 537.717 512.493
Beef Stocks 462.597 357.759 342.168
Cold Storage stocks are estimated - in million pounds while Cattle on Feed is estimated as a percentage compared to last year.