CHICAGO, Oct 31 (Reuters) – The number of cattle placed in U.S. feedlots in September increased 1 percent from a year earlier, a government report showed on Thursday
Analysts attributed the increase to less-costly corn that allowed feedlots to purchase young cattle to fatten before sending them to packers
The U.S. Department of Agriculture showed September placements at 2.025 million head, up 1 percent from 2.004 million a year earlier. Analysts, on average, expected a 1.2 percent increase
USDA put the feedlot cattle supply as of Oct. 1 at 10.144 million head, down 8 percent from a year earlier. Analysts polled by Reuters, on average, expected a drop of 7.3 percent
The government said the number of cattle sold to packers, or marketings, in September was up 6 percent from a year earlier, to 1.695 million head. Analysts’ forecast was a rise of 4.1 percent
Chicago Mercantile Exchange live cattle futures, which were trading electronically when the USDA report was released, were unmoved by the data. Analysts viewed the figures as neutral to mildly bullish for the market
