News

Cattle on feed up 7%, placements and marketings down

 

The USDA’s latest set of cattle on feed numbers were very close to what analysts had been expecting.

The total number of cattle on feed on April 1st, 2018 was up 7% on the year at 11.729 million head, the second highest for that date since the series of reports started. The steer and steer calf inventory was 4% higher at 7.535 million head and heifers and heifer calves jumped 14% to 4.194 million, an indication that herd expansion might be slowing down.

The USDA says placements into feedlots during March 2018 were 1.921 million head, down 9% from the monthly record set in March 2017. Those cattle will head to slaughter between July and October of this year. By weight, placements of cattle weighing less than 600 pounds were 315,000 head, 600 to 699 pound placements were 285,000 head, and the 700 to 799 pound category accounted for 530,000 head, while 800 to 899 pound placements were 531,000 head, 900 to 999 pound placements were 185,000 head, and placements of cattle weighing 1,000 pounds and up were 75,000 head.

Marketings were down 4% at 1.840 million head, while other disappearances jumped 20% to 67,000 following inclement weather in many of the major U.S. feeding areas.

The numbers look mostly neutral for futures.