CHICAGO: The number of cattle placed in US feedlots last month rose unexpectedly, a government report showed on Friday, after many cattle that were delayed by harsh winter weather in February arrived in feedyards in March.
The US Department of Agriculture showed March placements up 6 percent from a year earlier to 1.899 million head. The average analyst estimate was for a 1.5 percent decline.
USDA put supply of cattle in feedlots on April 1 at 10.909 million head, or 95 percent of the year-ago total. Analysts polled by Reuters, on average, expected 94 percent.
The government said the number of cattle sold to packers, or marketings, in March was down 8 percent from a year earlier, to 1.771 million head versus forecast for a 6.4 percent decrease.
Analysts said the larger-than-expected placements and lower marketing results could pressure live cattle contracts at the Chicago Mercantile Exchange when the market reopens on Monday morning.
<Center><b><i>Copyright Reuters, 2013</b></i><br></center>
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