News
USDA: November cattle placements fall 9%
The USDA’s cattle on feed numbers show a year to year decline for placements.
During November, 1.906 million head of cattle were placed into feedlots, down 9% on the year with concerns about profitability, demand, and feed costs. That was close to expectations and implies tighter market ready supplies in late spring and early summer 2021.
By weight, placements of cattle weighing less than 600 pounds were 520,000 head, 600 to 699 pound placements were 460,000 head, and 700 to 799 pound placements were 400,000 head, while 800 to 899 pound placements were 306,000 head, 900 to 999 pound placements were 130,000 head, and placements of cattle weighing more than 1,000 pounds were 90,000 head.
The total number of cattle on feed on December 1st was 12.036 million head, up slightly on the year, and monthly marketings were down 2% at 1.782 million head, both also close to expectations.
The numbers look friendly for futures, but that will likely be muted by the light holiday trade.
Comparisons for Brownfield states:
Iowa: On Feed: 610,000 head, down 12% from December 1st, 2019; Placements: 83,000 head, down 25% from November 2019; Marketings: 91,000 head, up 20% from November 2019
Minnesota: On Feed: 125,000 head, down 11% from December 1st, 2019; Placements: 16,000 head, down 36% from November 2019; Marketings: 15,000 head, up 7% from November 2019
Nebraska: On Feed: 2.53 million head, up 2% from December 1st, 2019; Placements: 460,000 head, down 12% from November 2019; Marketings: 415,000 head, down 13% from November 2019
South Dakota: On Feed: 250,000 head, unchanged from December 1st, 2019; Placements: 79,000 head, up 5% from November 2019; Marketings: 53,000 head, down 17% from November 2019
