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USDA: record monthly cattle on feed total

The USDA says placements of cattle onto feed during June were down 2% on the year at 1.756 million head, but that was still more than what some analysts were expecting. DTN says estimates ranged from 93.2% to 105.7%, with an average of 97.7% of a year ago.

Most of those were cattle weighing less than 600 to as much as 900 pounds, heading to market between late summer and mid-fall. By weight, placements of cattle weighing less than 600 pounds were 385,000 head, 600 to 699 pound placements were 295,000 head, and the 700 to 799 pound category was 391,000 head, while 800 to 899 pound placements were 390,000 head, 900 to 999 pound placements were 185,000 head, and placements of cattle weighing more than 1,000 pounds were 110,000 head.

Marketings were 3% lower than a year ago at 1.945 million, while the total number of cattle on feed on July 1st was up 2% at 11.485 million, the largest total for the month since the series of reports started in 1996. Steers and steer calves made up 7.01 million head, down 2%, while heifers and heifer calves accounted for 4.47 million head, up 8%.

Other disappearances were 66,000 head, a jump of 14%.