Cattle on Feed Report Reveals 2% More Cattle on Feed than 2018
Placements in feedlots during November totaled 2.09 million head, 5% above 2018. Net placements were 2.03 million head. During November, placements of cattle and calves weighing less than 600 pounds were 620,000 head, 600-699 pounds were 500,000 head, 700-799 pounds were 423,000 head, 800-899 pounds were 310,000 head, 900-999 pounds were 130,000 head, and 1,000 pounds and greater were 110,000 head.
Marketings of fed cattle during November totaled 1.81 million head, 3% below 2018.
Other disappearance totaled 65,000 head during November, 19% below 2018.
"Putting a finger on what the placement projection will be is no simple task," said DTN Livestock Analyst ShayLe Stewart. "Analysts' projections were honed in on the marketing and on-feed categories, but Friday's Cattle on Feed report showed that more feeders were placed in feedlots than initially assumed. If you've been following the feeder cattle market, this doesn't come as a huge surprise to you. Since the initial week of the fall run this last October, calves have steadily been walking across the scales, have kept trucks busy running up and down the roads and sale barns nearly full each week.
"A lot of feeders were placed in feedlots early this year due to producers being tired of the market's turmoil; anticipation of a cold, long and wet winter and cattlemen not wanting to have to carry them through; and the simple fact that wheat pastures didn't come on like many had hoped. That all equates to the fact that feeders needed to go somewhere, and as more data is presented, there's no denying that those feeders have gone to the feedlots."