CHICAGO, Ill. (Reuters) — The number of cattle placed in U.S. feedlots in September increased one percent from a year ago, a government report showed today.
Analysts attributed the gain in part to continued profits by feedlots that allowed them to purchase more young calves, or feeder cattle, to fatten.
The U.S. Department of Agriculture report showed September placements at 2.007 million head. It was up one percent from 1.988 million a year earlier.
Analysts, on average, had expected a 1.9 percent September placement increase.
The USDA put the feedlot cattle supply as of Oct. 1 at 10.058 million head, down one percent from 10.110 million a year earlier. Analysts polled by Reuters, on average, forecast a decline of .3 percent.
The government said the number of cattle sold to packers, or marketings, was down one percent in September from a year earlier, to 1.683 million head. Analysts projected a drop of .9 percent from 1.692 million last year.
Analysts viewed the report as neutral to mildly bullish for Chicago Mercantile Exchange live cattle futures on Monday.
