January 25, 2013 / 8:47 PM / 5 years ago

CORRECTED-U.S. cattle placements fall seventh straight month

(CORRECTS date to Jan. 25)
    * Jan 1 feedlot cattle supply fall 6 pct yr-over-year
    * Dec placements down 1 pct yr-over-yr, 4.8 pct below
forecasts
    * Marketings down 2 pct from yr ago, 4.9 pct above estimate
    * Report viewed bullish for cattle futures on Monday

    By Theopolis Waters
    CHICAGO Jan 25 (Reuters) - The number of cattle placed in
U.S. feedlots in December fell for a seventh straight month, a
government report showed on Friday, in a sign of high feed costs
continuing to roil the industry after the worst drought in half
a century.
    The decline was against trade expectations for the first
monthly increase in placements since May.
    The U.S. Department of Agriculture showed placements down 1
percent from a year earlier to 1.664 million head, extending its
string of monthly declines since May. The average analyst
estimate was for a 3.8 percent increase.
    USDA put supply of cattle in feedlots on Jan. 1 at 11.193
million head, or 94 percent of the year-ago total. Analysts
polled by Reuters, on average, expected 95.5 percent. 
    And, the government said the number of cattle sold to
packers, or marketings, in December was down 2 percent from a
year earlier, to 1.745 million head versus forecast for a 6.9
percent reduction.
    Analysts viewed Friday's cattle report as bullish for
Chicago Mercantile Exchange live cattle futures on Monday, with
some analysts calling the market to rise by as much as 1.000
cents.
        

 (Additional reporting by Michael Hirtzer)

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