Market News & Headlines >> Delayed USDA Cattle-on-Feed Data Friendly
The cattle market received friendly news from Friday’s monthly Cattle-on-Feed report, with USDA pegging the U.S. feedlot inventory and monthly feedlot placements toward the low end of expectations, but the delayed data for January appeared to be largely factored into futures prices.
USDA pegged the Jan. 1 U.S. feedlot inventory at 101.7% of a year earlier, compared with trade estimates that averaged 102.2% in a range from 101.3%-102.6%, according to a Dow Jones Newswires survey of 8 analysts. In actual numbers, the Jan. 1 U.S. feedlot inventory was 11.690 million head, 201,000 larger than a year earlier and was still the largest for the date in seven years.
December feedlot placements were reported by USDA at 98.2% of a year earlier compared with trade estimates that averaged 101.4% in a range from 95.1%-103.8%. In actual numbers, December placements totaled 1.767 million head, 32,000 below a year earlier and were the lowest in three years.
USDA put December feedlot marketings at 99.4% of a year earlier compared with trade expectations that averaged 99.7% of a year earlier in a range from 99.3%-101.9%. In actual numbers, December feedlot marketings totaled 1.741 million head and were the lowest in three years.
The data released by USDA on Friday was originally scheduled for release on Jan. 25, but was delayed by the partial government shutdown. USDA will release its February Cattle-on-Feed report on March 6.