News

USDA: May cattle marketings down 3%

The USDA says placements of cattle onto feed during May were down 3% on the year at 2.064 million head. Feed costs moved higher for most of the month with persistent planting delays for corn and most of those placements were cattle weighing between 700 and 900 pounds, heading to market this fall.

By weight, placements of cattle weighing less than 600 pounds were 370,000 head, 600 to 699 pound placements were 305,000 head, and 700 to 799 placements came out at 500,000 head, while 800 to 899 pound placements were pegged at 539,000 head, 900 to 999 pound placements were 235,000 head, and placements of cattle weighing more than 1,000 pounds were 115,000 head.

Marketings were up 1% at 2.07 million head even with many producers losing money, while the total number of cattle on feed on June 1st was 2% higher at 11.740 million head.

Other disappearances were 72,000 head, down 1%.

The numbers look neutral to bearish for cash and futures business.