The nation’s cattle inventory in feedlots remains larger than a year ago, but a closer look at the latest USDA data shows supplies outside those feedlots continue to tighten. USDA livestock analyst Anthony Fischer has more.
“The number of cattle on feed for feedlots with a capacity of 1,000 or more head on September 1st was 11.16 million head, which was 1% higher compared to a year ago.”
Fischer says the September Cattle on Feed report reflects a combination of higher feedlot inventories and limited cattle availability elsewhere in the production chain. He notes both placements and marketings remained historically low during August.
“This is the second consecutive month of record low monthly placements as the supply of cattle outside feedlots remains tight. Feeder prices were down a bit in August to their lowest level since December. This may have discouraged some stockers or cow-calf operations from marketing their calves during the month. This is also the second month in a row of record-low monthly marketings, but marketings were actually above pre-report expectations. With the closure of a few packing plants in August, the pace of marketings has slowed a bit, but feedlots still made an effort to clear the front-end supply of market-ready animals.”