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US Sept. cattle placements seen up as feed costs ease

CHICAGO — The number of cattle placed in U.S. feedlots likely rose last month as reduced corn costs allowed feedyards to purchase more young cattle for fattening, according to most analysts polled by Reuters.

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They said higher prices paid for cattle in September provided incentive for ranchers to move cattle to feeding pens. Some analysts, however, believe sufficient grazing pasture and fewer available feeder cattle dropped last month’s placements below the September 2012 level.

The U.S. Department of Agriculture’s cattle-on-feed report, which is scheduled for 2 p.m Friday, likely will not be issued due to the U.S. government shutdown, analysts said.