USDA reports slightly higher feedlot inventory

Source: Farm Progress. The original article is posted here.

USDA reports slightly higher feedlot inventory
The U.S. Department of Agriculture has released the February “Cattle on Feed” report, revealing a feedlot inventory totaling 11.8 million head on February 1, 2024, up slightly by 0.4% from February 1, 2023, and in line with analysts’ expectations.


Following challenging winter weather conditions in January, the average pre-report trade estimate in a Bloomberg survey was for a 12% year-over-year decline in feedlot placements during January. The USDA report revealed that placements in feedlots during January totaled 1.79 million head, only 7% below 2023.

Net placements were 1.71 million head. During January, placements of cattle and calves weighing less than 600 pounds were 370,000 head, 600-699 pounds were 395,000 head, 700-799 pounds were 475,000 head, 800-899 pounds were 377,000 head, 900-999 pounds were 105,000 head, and 1,000 pounds and greater were 70,000 head.

Marketings of fed cattle during January totaled 1.84 million head, slightly below 2023 and in line with pre-report estimates.

Both April live cattle futures and April feeder cattle futures settled higher Friday at $187.900/cwt. and $259.975/cwt., respectively.

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