USDA’s monthly inventory of feedlots showed Placements and Marketings were both slightly lighter than anticipated last month. The result of this was On Feed was just a tick higher than expected.
COF Report | USDA | Average | Range |
% of year-ago levels
| |||
On Feed | 101
| 100.7 | 99.6-101.5 |
Placements | 90 | 91.4 | 86.7-99.0 |
Marketings | 100
| 101.6 | 99.6-104.0 |
A breakdown of calf placements into feedlots last month showed: lightweights down 19.4%; 6-weights down 18.8%; 7-weights down 5.1%; and heavyweights up 1.1%. The sharp decline in lightweight placements signals calf supplies are very tight.
Although there may be some bear spreading, the data is generally neutral. Focus should remain mostly of the boxed beef and cash cattle markets.
