At first glance the December cattle on feed report did not have a lot of surprising information to hold. Digging deeper into the report analyst essentially had it locked in with their estimates. Placements in the December report fit the pattern started in the October report with continuing shrinkage. Jerry Stowell highlighted in his commentary that with rising feed prices, placements are likely to continue dropping as feeders try to keep cattle out of the feed yard for longer.
All cattle and calves on feed for the slaughter market in the United States inside feedlots with capacity of 1,000 or more head totaled 12.0 million head on December 1, 2020. The inventory was slightly above December 1, 2019.
Cattle placed into feedlots during November totaled 1.91 million head, 9 percent below 2019. Net placements were 1.85 million head. During November, placements of cattle and calves weighing less than 600 pounds were 520,000 head, 600-699 pounds were 460,000 head, 700-799 pounds were 400,000 head, 800-899 pounds were 306,000 head, 900-999 pounds were 130,000 head, and 1,000 pounds and greater were 90,000 head.
Fed cattle marketed to the slaughter market in November totaled 1.78 million head, 2 percent below 2019.
Other disappearance totaled 61,000 head during November, 6 percent below 2019.
|December Cattle on Feed||December 2020||Est.||Range of Estimates|
Jerry Stowell, Country Futures, gives the important highlights of the report here: