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Cattle placements see first gain in months

Placements of cattle into U.S. feedlots were higher in May, the first increase since late last year.

The USDA says those placements were larger than expected, up 5% from May 2022 at 1.955 million head, most of those weighing between 700 and 900 pounds, heading to market between November and February. That year-to-year jump can be tied to increased feeder cattle imports from Canada and Mexico.

Marketings during May were 1.946 million head, 2% higher, while the total number of cattle on feed in the U.S. on June 1^st was 3% lower at 11.552 million head.

How futures and cash markets react to the report will depend on a few different factors, including beef demand.

Comparisons for Brownfield states:

Iowa: On Feed: 630,000 head, up 2% from June 1^st, 2022; Placements: 74,000 head, steady with a year ago; Marketings: 72,000 head, 1% more than last year

Kansas: On Feed: 2.47 million head, down 1% from June 1^st, 2022; Placements: 495,000 head, 3% higher than a year ago; Marketings: 455,000 head, 1% less than last year

Minnesota: On Feed: 100,000 head, unchanged from June 1^st, 2022; Placements: 11,000 head, steady with a year ago; Marketings: 10,000 head, no change from last year

Nebraska: On Feed: 2.45 million head, down 3% from June 1^st, 2022; Placements: 450,000 head, 14% higher than a year ago; Marketings: 520,000 head, 5% more than last year

South Dakota: On Feed: 200,000 head, up 3% from June 1^st, 2022; Placements: 26,000 head, 7% lower than a year ago; Marketings: 40,000 head, 15% less than last year