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Cattle on feed, placements up slightly

 

The latest round of USDA cattle on feed numbers have modest increases in a couple of the major categories. Before the report, most analysts were expecting year to year declines, so the numbers do indicate at least some herd expansion. According to DTN, on average, analysts were expecting the total number of cattle on feed to be down 1%, placements were expected to be 4.5% lower and marketings were expected to be down 2%.

On of April 1st, the total number of cattle on feed in the U.S. was 10.797 million head, slightly larger than last year. 7.46 million head were steers and steer calves, 5% more than a year ago, and 3.34 million head were heifers and heifer calves, a 10% decrease on the year.

Placements into feedlots during March were 1.809 million head, a little bit more than last year. Most of the placements were heavier weight cattle. By weight, placements of cattle and calves weighing less than 600 pounds were 365,000 head and 600 to 699 pound placements were 275,000 head, while 700 to 799 pound placements were 449,000 head and placements of cattle weighing more than 800 pounds were 720,000 head.

Marketings were pegged at 1.631 million head, down 2% on the year and in-line with most pre-report estimates. This is the lowest marketing total for March since the series of reports started in 1996.

Other disappearances were 69,000 head, 6% more than in March 2014.

The numbers look at least slightly negative for Chicago Mercantile Exchange cattle futures.