Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.8 million head on May 1, 2019. The inventory was 2% above May 1, 2018. This is the highest May 1 inventory since the series began in 1996, USDA reported Friday.
Placements in feedlots during April totaled 1.84 million head, 9% above 2018. Net placements were 1.78 million head. During April, placements of cattle and calves weighing less than 600 pounds were 355,000 head, 600-699 pounds were 250,000 head, 700-799 pounds were 447,000 head, 800-899 pounds were 495,000 head, 900-999 pounds were 210,000 head, and 1,000 pounds and greater were 85,000 head.
Darrell Holaday, Country Futures, believes the report to be bullish: https://post.futurimedia.com/krvnam/playlist/cattle-on-feed-with-darrell-holaday-6794.html
Marketings of fed cattle during April totaled 1.93 million head, 7% above 2018.
Other disappearance totaled 60,000 head during April, 5% below 2018.
“Even though these numbers continue to show growing inventory, on-feed levels and placed cattle numbers are well below estimated levels,” said DTN Analyst Rick Kment. “This is expected to result in mixed trade direction Tuesday with increased inventory quickly offset by traders’ anticipation of an even more bearish report. Cattle marketed through the month of April increased 7%, which beat pre-report estimates, focusing on continued aggressive product movement and demand support.”
View the full Cattle on Feed report in the Livestock Archives folder under the Markets menu. The report is also available at https://www.nass.usda.gov/….
|USDA Actual||Average Guess||Range|
|On Feed May 1||102.0%||103.1%||102.3-103.8%|
|Placed in April||109.0%||114.4%||109.7-118.9%|
|Marketed in April||107.0%||106.6%||105.9-107.1%|