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Cattle on Feed Report 09/22 14:37
Sept. 1 Cattle on Feed Down 2%
By DTN Staff
USDA Actual Average Estimate Range
On Feed Sept. 1 98% 97.8% 97.2-98.6%
Placed in August 95% 94.8% 92.0-98.1%
Marketed in August 94% 94.4% 92.2-94.7%
This article was originally published at 2:06 p.m. CDT on
Friday, Sept. 22. It was last updated with additional
information at 2:37 p.m. CDT on Friday, Sept. 22.
**
OMAHA (DTN) -- Cattle and calves on feed for the slaughter
market in the United States for feedlots with capacity of 1,000
or more head totaled 11.1 million head on Sept. 1, 2023. The
inventory was 2% below Sept. 1, 2022, USDA NASS reported on
Friday.
Placements in feedlots during August totaled 2.00 million head,
5% below 2022. Net placements were 1.95 million head. During
August, placements of cattle and calves weighing less than 600
pounds were 420,000 head, 600-699 pounds were 305,000 head, 700-
799 pounds were 455,000 head, 800-899 pounds were 488,000 head,
900-999 pounds were 245,000 head, and 1,000 pounds and greater
were 90,000 head.
Marketings of fed cattle during August totaled 1.88 million
head, 6% below 2022.
Other disappearance totaled 55,000 head during August, 4% above
2022.
DTN ANALYSIS
"Friday's Sept. 1 Cattle on Feed report comes with a sigh of
relief for cattlemen and traders, as the report came with no
surprises and supports the market's strong fundamental outlook,"
said DTN Livestock Analyst ShayLe Stewart.
"The big question in Friday's report was: Where will the August
placement data land, exactly? With analysts having a wide spread
in their estimates, (ranging anywhere from 92.0% to 98.1%
compared to a year ago) there was a mixed consensus on what
placement data would be. But when looking through the report
thoroughly, it's evident that there were fewer cattle placed in
August, as the market simply has fewer cattle to offer,
especially following the big placements seen in June and July.
The only states that saw an increase in placements compared to a
year ago were Idaho (up 7%), Kansas (up 3%), Texas (up 2%) and
Washington (up 13%). And it was also interesting to note that
when looking at the placement data from a weight group
perspective, not one single division in Friday's report
surpassed that of a year ago. That again emphasizes the fact
that there are simply fewer cattle in today's market than there
were a year ago.
"All in all, Friday's Cattle on Feed report should be viewed as
another favorable report to the market, as no surprises were
found, and the data came as expected. And when looking to the
fall feeder cattle run that's expected to really take off in the
next couple of weeks, Friday's data should be viewed as
encouraging news to cow-calf producers, as they are again
reassured that their calves should be worth considerably more
than what they sold for a year ago."
**
DTN subscribers can view the full Cattle on Feed reports in the
Livestock Archives folder under the Markets menu. The report is
also available at https://www.nass.usda.gov/.
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