Market News & Headlines >> U.S. Feedlot Inventory Down Versus Last Year
Friday afternoon’s monthly Cattle-on-Feed report from USDA confirmed that the U.S. feedlot inventory fell below a year earlier during October as feedlot placements fell to a four-year low, while marketings remained active.
USDA pegged the Nov. 1 supply of cattle on feed at 98.7% of a year earlier, compared with trade estimates that averaged 99.0% of a year earlier in a range from 97.7%-100.8%, according to a survey of 10 analysts by Reuters News Service. In actual numbers, the Nov. 1 feedlot inventory was 10.665 million head, down 144,000 head from a year earlier.
USDA pegged October feedlot placements at 95.0%, versus trade estimates that averaged 95.7% of a year earlier in a range from 89.9%-103.8%. In actual numbers, October feedlot placements were 2.171 million head, 115,000 below a year earlier and the smallest for the month since 2012.
USDA pegged October feedlot marketings at 104.6% of a year earlier, closely in line with trade estimates averaging 104.7% of a year earlier in a range from 103.1%-106.5%. In actual numbers, October feedlot marketings equaled 1.705 million head, up 75,000 from a year earlier and the largest for the month in three years.
Placements data indicated cattle that went on feed at lighter weights during October than a year earlier. Placements of cattle weighing over 800 pounds were only 83.1% of a year earlier. Placements of cattle in the 700-799 pound weight class were up 9.3% from a year earlier. Placements of cattle weighing 600-699 pounds were 99% of a year earlier, while placements of animals weighing less than 600 pounds were 94.5% of a year earlier.