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Cattle placements down in January, marketings up

The USDA says placements of cattle into feedlots during January fell 4% on the year to 1.932 million head. That is the fifth month in a row with lower placements, reflecting the large number cattle that were pulled forward in 2022, high feed costs, and issues with pasture conditions in some of the major feeding areas. This will lead to tighter supplies of market ready numbers this summer into the early part of fall.

January marketings were up 4% from January 2022 at 1.847 million head, while the total number of U.S. cattle on feed on February 1st was 4% below the year before at 11.704 million head.

The numbers look neutral to bullish, in-line with pre-report expectations, but any support will also depend on sustained demand for beef.

The USDA’s next round of on feed estimates is out in mid-March.

Comparisons for Brownfield states:

Iowa: On Feed: 620,000 head, up 2% from February 1st, 2022; Placements: 105,000 head, 4% lower than January 2022; Marketings: 103,000 head, 5% more than a year ago

Kansas: On Feed: 2.45 million head, down 4% from February 1st, 2022: Placements: 500,000 head, 5% higher than January 2022; Marketings: 430,000 head, 2% more than a year ago

Minnesota: On Feed: 95,000 head, down 5% from February 1st, 2022; Placements: 13,000 head, 8% higher than January 2022; Marketings: 12,000 head, 9% more than a year ago

Nebraska: On Feed: 2.57 million head, down 3% from February 1st, 2022; Placements: 490,000 head, 8% lower than January 2022; Marketings: 500,000 head, 9% more than a year ago

South Dakota: On Feed: 215,000 head, down 9% from February 1st, 2022; Placements: 40,000 head, 8% higher than January 2022; Marketings: 33,000 head, 10% more than a year ago

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