Market News & Headlines >> Cattle-on-Feed Data Mildly Friendly for Prices

Friday afternoon’s USDA Cattle-on-Feed report was mildly friendly for cattle prices as it pegged April feedlot placements and the May 1 feedlot inventory at the low end of trade expectation, while putting April feedlot marketings above the average of trade expectations. 

However, support for live cattle futures prices on Tuesday was limited as the May 1 feedlot inventory was still record large for the current USDA data series going back to 1996. 

The May 1 feedlot inventory came in at 102.2% of a year earlier, according to USDA, compared with trade expectations that averaged 102.9% in a range from 102.1%-103.8%. In actual numbers, the May 1 feedlot inventory totaled 11,818 million head, 260,000 larger than a year earlier. 

USDA pegged April feedlot placements at 108.7% of a year earlier, compared with trade estimates that averaged 113.0% in a range from 108.6%-118.9%.  In actual numbers, April placements were 137,000 head larger than a year earlier and were the third largest on record for the month going back to 1996. 

April feedlot marketings were also large, however, at 106.9% of a year earlier, according to USDA, compared with trade estimates that averaged 106.6% in a range from 105.9%-107.1%. In actual numbers, April feedlot marketings totaled 1.928 million head, 125,000 larger than a year earlier and were the largest for the month in 11 years.