Cattle on Feed Report: Neutral

Posted on 03/08/2019 2:49 PM

USDA’s Cattle on Feed Report lined up closely with the pre-report trade estimates. The Feb. 1 feedlot inventory at 11.678 million head was up 0.4% from last year and just 31,000 head more than the average pre-report estimate. The number of cattle placed into feedlots in January declined 5.3%, while marketings were 2.8% greater than last year.

Cattle on Feed Report

USDA
(% of year-ago)

Avg. Trade Estimate

(% of year-ago)

On Feed Feb. 1

100.4

100.2

Placements in January

94.7

93.5

Marketings in January

102.8

102.4

 

The breakdown of cattle placed into feedlots in January showed only 8-weights up from year-earlier levels. The steepest declines in placements were 7-weights (down 11.4%), 9-weights (down 13.0%) and the 1,000-lb.-plus category (down 17.6%), though the two heaviest weight categories accounted for only 8.7% of all placements.

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