The November cattle on feed report showed all cattle on feed in the US jumped 1% higher. Placements finally dropped in the monthly report after seeing several months of higher placements. However total cattle on feed was a strong number above analyst expectations. So the supply side of the market looks to be well funded with possible disruptions in the demand on the way.
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 12.0 million head on November 1, 2020. The inventory was 1 percent above November 1, 2019. This is the highest November 1 inventory since the series began in 1996.
Placements in feedlots during October totaled 2.19 million head, 11 percent below 2019. Net placements were 2.13 million head. During October, placements of cattle and calves weighing less than 600 pounds were 570,000 head, 600-699 pounds were 495,000 head, 700-799 pounds were 465,000 head, 800-899 pounds were 387,000 head, 900-999 pounds were 185,000 head, and 1,000 pounds and greater were 90,000 head.
Marketings of fed cattle during October totaled 1.87 million head, slightly below 2019.
Other disappearance totaled 63,000 head during October, 7 percent above 2019.
|November Cattle on Feed||November 2020||Est.||Range of Estimates|
Jerry Stowell with Country Futures calls the report friendly:
You can see the whole report here: