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USDA Cattle on Feed report near estimates
The USDA’s cattle on feed numbers were close to pre-report expectations.
The total number of cattle on feed in the U.S. on June 1st was up slightly on the year at 11.699 million head, the second highest for the month since the series of reports started 25 years ago.
Placements during May were at the low end of estimates and could be a little friendly, down 7% from a year ago at 1.911 million head, which would mean fewer cattle available for marketing late this year and early next year. Most of those placements were on cattle weighing 700 and 900 pounds, but there were also significant placements of cattle weighing less than 600 pounds.
By weight, placements of cattle weighing less than 600 pounds were 355,000 head, 600 to 699 pound placements were 255,000 head, and placements of cattle weighing 700 to 799 pounds were 470,000 head, while 800 to 899 pound placements were 501,000 head, the 900 to 999 pound category accounted for 235,000 head, and placements of cattle weighing 1,000 pounds and heavier were 95,000 head.
Marketings of 1.87 million head were 23% above this time last year, when business was restricted by a lack of available processing space due to the COVID-19 pandemic.
The numbers look mostly neutral, but that will also depend on how the industry views the placements total, feed costs, and beef demand.
Year to year comparisons for applicable Brownfield states:
Iowa: On feed: 620,000 head, down 20,000 from June 1st, 2020; Placements: 67,000 head, 8,000 fewer than May 2020; Marketings: 74,000 head, 22,000 higher than a year ago
Minnesota: 105,000 head, down 25,000 from June 1st, 2020; Placements: 11,000 head, unchanged from May 2020; Marketings: 15,000 head, 5,000 higher than a year ago
Nebraska: 2.44 million head, up 30,000 from June 1st, 2020; Placements: 390,000 head, 20,000 fewer than May 2020; Marketings: 465,000 head, 110,000 higher than a year ago
South Dakota: 220,000 head, up 20,000 from June 1st, 2020; Placements: 31,000 head, 2,000 fewer than May 2020; Marketings: 42,000 head, 8,000 higher than a year ago
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