Economist says latest On Feed report confirms tighter supplies
A livestock economist says the latest Cattle on Feed report marks the sixth consecutive month with declines in cattle placed into feedlots.
But, University of Missouri’s Scott Brown tells Brownfield that wasn’t a surprise. “It just continues to tell us we’re going to get tighter in terms of slaughter-ready numbers in the second half of 2023,” he says.
He says the report was relatively close to pre-report expectations, and reflects the large number of cattle that were pulled forward due to drought conditions in 2022. “When you look at the by-weight categories of placements,” he says. “A majority of the decline is in the lighter weight classes. Which won’t be slaughter-ready for a few months.”
Marketings for February dropped 5% on the year and the total number of cattle on feed on March 1 was 5% below year-ago levels.