Cattle on Feed Report 02/21 14:05
Feb. 1 Cattle on Feed Up 2%
By DTN Staff
USDA Actual Average Estimate Range
On Feed Feb. 1 102% 102.3% 101.8-103.0%
Placed in January 99% 101.5% 97.8-103.5%
Marketed in January 101% 101.0% 97.6-101.6%
OMAHA (DTN) -- Cattle and calves on feed for the slaughter
market in the United States for feedlots with capacity of 1,000
or more head totaled 11.9 million head on Feb. 1, 2020. The
inventory was 2% above Feb. 1, 2019, USDA reported on Friday.
Placements in feedlots during January totaled 1.96 million head,
1% below 2019. Net placements were 1.90 million head. During
January, placements of cattle and calves weighing less than 600
pounds were 390,000 head, 600-699 pounds were 455,000 head, 700-
799 pounds were 535,000 head, 800-899 pounds were 400,000 head,
900-999 pounds were 105,000 head, and 1,000 pounds and greater
were 70,000 head.
Marketings of fed cattle during January totaled 1.93 million
head, 1% above 2019.
Other disappearance totaled 54,000 head during January, 11%
"February's Cattle on Feed Report comes with few surprises this
time around," said DTN Livestock Analyst ShayLe Stewart. "Seeing
on-feed numbers higher falls right in line with the last handful
of reports that showed placement numbers higher as well. It's
important to understand that cattle on feed right now are
largely going to be sold in the heat of this upcoming summer.
With a plethora of fats ready to go in the dog days of summer,
prices will most likely wane, as usual, but will also be
pressured by the sheer number of cattle available. It will be
critical to watch beef demand going into the summer months and
essential for the market to stay current on readily available
fat cattle supplies.
"One may look at the placement numbers and think the lower
figure is a bullish indication, but in this case, it really
comes down to timing. More feeders were placed in feedlots in
2019's fourth quarter than usual, which consequently leaves
fewer feeders to be placed this time of year. The bump in feeder
cattle sales throughout the country is largely because of
DTN subscribers can view the full Cattle on Feed reports in the
Livestock Archives folder under the Markets menu. The report is
also available at https://www.nass.usda.gov/.
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