Cattle on Feed Report: Negative

December 16, 2011 08:30 AM
 

USDA's monthly audit of feedlot activity showed 12.081 million head of cattle On Feed as of Dec. 1 -- up 4% from year-ago. The slightly higher- than-expected On Feed number was the result of a much-stronger-than-anticipated Placements pace last month. The Marketings pace was also stronger than anticipated.

The weight breakdown of cattle placed into feedlots last month showed: lightweight placements up 20.8%; 6-weight placements down 15.4%; 7-weight placements steady; and heavyweight placements up 10.8% from year-ago.

The aggressive movement of lightweight calves into feedlots isn't a surprise given poor pasture conditions in the Southern Plains. The increase in heavyweight placements last month likely came as animals out of the southern and eastern U.S., where pasture conditions are much better, moved into feedlots.

Cattle futures should open lower Monday based on this data, with the bulk of the pressure on far-deferred futures.

 

COF Report

USDA

Average

Range

% of year-ago levels

On Feed

104%

103.7

103.1-104.5

Placements

104%

99.6

97.3-103.2

Marketings

100%

98.5

95.8-100.2

 


 

Back to news
RELATED CONTENT

Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by Barchart.com
brought-by
Close