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Cattle on Feed Report *AUDIO with Jerry Stowell*

Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.8 million head on March 1, 2019. The inventory was 1% above March 1, 2018, USDA reported Friday.

Placements in feedlots during February totaled 1.86 million head, 2% above 2018. Net placements were 1.79 million head. During February, placements of cattle and calves weighing less than 600 pounds were 340,000 head, 600-699 pounds were 345,000 head, 700-799 pounds were 530,000 head, 800-899 pounds were 442,000 head, 900-999 pounds were 135,000 head, and 1,000 pounds and greater were 65,000 head.

Listen to Jerry Stowell, Country Futures, break down the report:

https://post.futurimedia.com/krvnam/playlist/cattle-on-feed-report-3-22-w-jerry-stowell-6342.html

Marketings of fed cattle during February totaled 1.68 million head, slightly above 2018.

Other disappearance totaled 66,000 head during February, 16% above 2018.

“The March 1 Cattle on Feed report appears to be generally bearish based on stronger-than-expected cattle placement through February,” said DTN Analyst Rick Kment. “Total feeder cattle placements was 102% of 2018 levels with 1.857 million cattle placed in feed yards. This placement is 6% over early report expectations and just slightly above the top end of the market range. Total cattle on feed came in 1.3% above expectations with a total on feed level of 101% year-ago levels.

“The market impact of the report may not be fully seen due to the wide market shifts seen through the week and uncertainty over how cattle inventory will change through the rest of the spring due to recent winter storms and floods.”

To view the full Cattle on Feed report, visit https://www.nass.usda.gov/…

USDA Pre-report Estimates
Actual Avg Low High
On feed March 1 101.0% 99.7% 99.0% 100.6%
On feed February 1 100.0%
Placed on feed during February 102.0% 96.0% 92.2% 101.5%
Fed cattle marketed during February 100.0% 100.8% 99.7% 101.3%

Marketings of fed cattle during February totaled 1.68 million head, slightly above 2018.

Other disappearance totaled 66,000 head during February, 16% above 2018.

“The March 1 Cattle on Feed report appears to be generally bearish based on stronger-than-expected cattle placement through February,” said DTN Analyst Rick Kment. “Total feeder cattle placements was 102% of 2018 levels with 1.857 million cattle placed in feed yards. This placement is 6% over early report expectations and just slightly above the top end of the market range. Total cattle on feed came in 1.3% above expectations with a total on feed level of 101% year-ago levels.

“The market impact of the report may not be fully seen due to the wide market shifts seen through the week and uncertainty over how cattle inventory will change through the rest of the spring due to recent winter storms and floods.”

To view the full Cattle on Feed report, visit https://www.nass.usda.gov/…

USDA Pre-report Estimates
Actual Avg Low High
On feed March 1 101.0% 99.7% 99.0% 100.6%
On feed February 1 100.0%
Placed on feed during February 102.0% 96.0% 92.2% 101.5%
Fed cattle marketed during February 100.0% 100.8% 99.7% 101.3%
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