USDA's cattle on feed report counted 11.83 million head on feed, which is 101.2% of last year and up 4.8% from October as feedlot inventories increase to a seasonal peak.
Some winter storms affect beef production and supply; some impact demand; and sometimes winter weather affects both beef supply and demand.
A large winter storm is advancing across the central U.S. bringing cold temperatures and some much-needed moisture. Feedlots continued to build inventory during September leading to a record inventory for Oct. 1.
Winter wheat pasture availability is helping to keep demand high for select stocker cattle weights.
The September Cattle on Feed report highlights some regional differences in the current feedlot situation among the four largest feeding states.
The latest Cattle on Feed report showed a September 1 feedlot inventory of 11.125 million head, a record for the month since the current data series began in 1996.
There are indications that the worst of the 2011 drought-forced movements of cattle may be slowing down.
While many cattlemen were surprised and frustrated with market reactions after the fire, Derrell Peel says the type and duration of price behavior are exactly what is predicted by market economics.