Latest USDA Monthly Livestock Data Deemed Mostly Neutral for Hog Futures

26 November 2013, at 1:47am

US - Last Friday afternoon's USDA cattle-on-Feed report was mostly in line with trade expectations and is being given a neutral reading by livestock market traders and analysts.

The Agriculture Department pegged U.S. cattle on placed feed as of November 1 at 10 per cent above year-ago levels.

The number of cattle on already feed as of November 1 was down around 6 per cent from November 1 of 2012. The cattle marketings figure was up one per cent from last year.

The USDA cold storage report showed frozen beef stocks just below market expectations, at 443.6 million pounds, 2 million pounds lower than last month but up three per cent from year-ago levels.

The cold storage report released Friday afternoon gets a neutral reading for lean hog futures, as frozen pork stocks as of October 31 totaled 566.7 million lbs., which was around 1.5 million lbs. more than traders expected but down around 1 million pounds from last month and down 6 per cent from last year's levels.