USDA’s cattle on feed report didn’t hold many surprises, but Darrell Mark, Extension Livestock Marketing Specialist at the University of Nebraska-Lincoln, tells Brownfield the recent decline in corn and dried distillers grains prices probably raised the placement figure.
According to Mark, “I think that’s probably what led to more of those lighter weight placements going on feed this last month. The margin actually on some of the lightest calves is better than on some of the yearling type of cattle.”
The total amount of cattle on feed as of September 1 was down 1% on the year at 9.882 million head with August placements up 2% at 2.110 million and marketings down 4% at 1.810 million. Other disappearances were at 112% of a year ago or 55,000 head.
The numbers aren’t expected to have much of an effect on futures trade Monday.
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