Cattle on feed up 1%, placements down 2%
The USDA says there were more cattle and calves in U.S. feedlots at the start of this month than on any other June 1st on record.
The on feed total of 11.846 million head was up 1% on the year as continued drought impacting pasture and range conditions in some of the major feeding areas outweighed concerns about high feed prices.
Placements into feedlots during May were 2% lower at 1.914 million head, with most of those weighing between 700 and 900 pounds, indicating tighter market ready supplies this fall. By weight, placements of cattle weighing less than 600 pounds were 370,000 head, placements of cattle weighing 600 to 699 pounds were 270,000 head, and placements of cattle weighing 700 to 799 pounds were 465,000 head, while placements of cattle weighing 800 to 899 pounds were 469,000 head, 900 to 999 pound placements were 220,000 head, and placements of cattle weighing 1,000 pounds and heavier were 75,000 head.
Marketings were up 2% at 1.869 million head.
That on feed total could be seen as bearish for prices or the report could be viewed as bullish because of the continued aggressive processing pace as the industry tries to meet beef demand.
Comparisons for Brownfield states:
Iowa: On Feed: 590,000 head, down 30,000 from June 1st, 2021; Placements: 74,000 head, 7,000 lower than May 2021; Marketings: 71,000 head, 3,000 below a year ago
Kansas: On Feed: 2.49 million head, down 30,000 from June 1st, 2021; Placements: 480,000 head, 25,000 lower than May 2021; Marketings: 460,000 head, 15,000 above a year ago
Minnesota: On Feed: 100,000 head, down 5,000 from June 1st, 2021; Placements: 11,000 head, 1,000 higher than May 2021; Marketings: 10,000 head, 4,000 below a year ago
Nebraska: On Feed: 2.53 million head, up 90,000 from June 1st, 2021; Placements: 395,000 head, 5,000 higher than May 2021; Marketings: 495,000 head, 30,000 above a year ago
South Dakota: On Feed: 195,000 head, down 25,000 from June 1st, 2021; Placements: 28,000 head, 3,000 lower than May 2021; Marketings: 47,000 head, 5,000 above a year ago