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Cattle placements down 1% on year

 

If there was any surprise in this latest set of cattle on feed numbers, one market analyst tells Brownfield it was in the placement category.

According to Oklahoma State University Extension Livestock Marketing Specialist Derrell Peel, placements during October came in a little bit higher than what the trade was expecting, which did have an impact on the other major categories, “It was really the fact that the placements were larger than expected. Marketings were about as expected and that’s what gave rise to the slight year over year increase in the on feed total. The general expectation going in was that the on feed number would still be just fractionally below a year ago – it came in just slightly higher than that.”

Placements during October were 2.357 million head, down 1% on the year and the second lowest for the month since the series of reports started in 1996. By weight, placements of cattle weighing less than 600 pounds were 690,000 head and placements for 600 to 699 pounders were 570,000 head, while placements on 700 to 799 pound cattle were 462,000 head and placements on cattle weighing 800 pounds and heavier were 635,000 head. Marketings were 8% less than last year at 1.685 million head and the lowest for the month since the series began. The total number of cattle on feed in the U.S. as of November 1 were slightly larger than a year ago at 10.633 million head. Other disappearances were 97,000 head, a 28% jump.

The next cattle on feed report is out December 19.