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March cattle placements fall sharply
Placements of cattle into U.S. feedlots dropped in March.
The USDA says the 1.746 million head placed in March fell 12% on the year, a bigger than expected decline because of aggressive movement in February following the weather-related slowdown in January, along with generally tighter supplies in many of the major feeding areas.
March marketings were down 14% at 1.706 million head while the total number of cattle on feed at the start of April was up 1% to 11.821 million head, a signal that even with those lower placements, show lists are starting to show a seasonal increase.
The numbers look neutral to bearish for cash and wholesale prices, but that will also depend on beef demand and feed costs.
Comparisons for Brownfield states:
Iowa: On Feed: 660,000 head, up 3% from April 1st, 2023; Placements: 105,000 head, 4% lower than March of last year; Marketings: 93,000 head, 13% less than a year ago
Kansas: On Feed: 2.4 million head, down 1% from April 1st, 2023; Placements: 400,000 head, 13% lower than March of last year; Marketings: 390,000 head, 19% less than a year ago
Minnesota: On Feed: 105,000 head, up 11% from April 1st, 2023; Placements: 14,000 head, 7% lower than March of last year; Marketings: 13,000 head, 7% less than a year ago
Nebraska: On Feed: 2.54 million head, up slightly from April 1st, 2023; Placements: 450,000 head, 6% lower than March of last year; Marketings: 460,000 head, 2% less than a year ago
South Dakota: On Feed: 250,000 head, up 14% from April 1st, 2023; Placements: 40,000 head, 9% less than March of last year; Marketings: 33,000 head, 11% less than a year ago
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