Monthly Cattle on Feed Report Falls Within Expectations

WASHINGTON, DC – Traders walked away from Friday afternoon’s monthly Cattle on Feed Report from USDA unfazed by the latest numbers.

Analysts had expected an on feed number between 98.9 and 99.9 percent, placements between 98.9 and 106.5 percent and marketings between 100.3 and 101.8 percent of year ago levels.

With the estimates from USDA, as of January 1, 2021, on feed was actually 100 percent, placements were 101 percent and marketings hit 101 percent – all within the trade range.

**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 January 1, 2021.

The inventory was slightly above January 1, 2020. The inventory included 7.40 million steers and steer calves, up slightly from the previous year.

This group accounted for 62 percent of the total inventory. Heifers and heifer calves accounted for 4.57 million head, down slightly from 2020.

**Placements in feedlots during December totaled 1.84 million head, 1 percent above 2019.

Placements were the second highest for January since the series began in 1996.

Net placements were 1.78 million head.

**Marketings of fed cattle during December totaled 1.85 million head, 1 percent above 2019. Marketings were the second highest for January since the series began in 1996.

Other disappearance totaled 60,000 head during December, 10 percent below 2019.
(SOURCE: All Ag News)