This afternoon’s Cattle on Feed Report showed the total number of cattle on feed was lighter than expected and placements came in much lighter than anticipated. Marketings were just above expectations. This signals that feedlots are current and feeder calf supplies are tightening. With the amount of pressure the cattle market has been under lately, this is exactly what it needed to put in a low.
COF Report | USDA | Average | Range |
% of year-ago levels
| |||
On Feed | 93% | 93.5 | 92.9-94.6 |
Placements | 86% | 91.0 | 86.3-96.3 |
Marketings | 93% | 92.7 | 91.2-96.0 |
A breakdown of cattle placed into feedlots last month reveals: Lightweight calf placements were down 11.3%; 6-weights were down 19.4%; 7-weights were down 13.2%; and heavyweights were down 8.0%.
