Market News & Headlines >> Dec. 1 Feedlot Inventory Steady With 2019
Friday’s monthly Cattle-on-Feed report from USDA confirmed that the supply of cattle in U.S. feedlots on Dec. 1 was roughly unchanged from a year earlier, following a sizeable year-over-year drop in feedlot placements during November.
USDA pegged the Dec. 1 U.S. feedlot inventory at 12.036 million head, 100.0% of a year earlier and right on the average of pre-report trade estimates that ranged from 99.1%-100.8% of a year earlier. The Dec 1 feedlot inventory was actually a modest 5,000 head larger than a year earlier and was the largest for the date in nine years.
November feedlot placements were reported by USDA at 1.906 million head or 91.1% of a year earlier compared with trade expectations that averaged 91.4% of a year earlier in a range from 85.5%-95.2%. November placements were down 186,000 head from a year earlier and were the smallest for the month in four years.
USDA put November feedlot marketings at 1.782 million head or 98.3% of a year earlier, compared with trade estimates that averaged 98.4% of a year earlier in a range from 97.6%-102.3%. November marketings were 31,000 head below a year earlier and were the smallest for the month in five years.