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USDA data show cattle being held off feedlots
Story Date: 8/21/2012
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Source: Rita Jane Gabbett, MEATINGPLACE, 8/20/12
Cattle placed in feedlots with capacity of 1,000 or more head during July totaled 1.92 million, 10 percent below 2011, according to USDA’s monthly Cattle on Feed report released on Friday.
Analysts noted in the CME Group’s Daily Livestock Report that cattle placed on feed averaged 713.7 pounds, just one pound higher than the 2006-2010 average for July but 11.5 pounds heavier than last year’s July-placed cattle, which they predicted would be slightly bullish for January and February fed cattle prices.
“We expect cattle placements to remain lower than one year ago for the remainder of 2012… tighter feeder cattle supplies and record-high feed prices will both discourage any growth in feedlot numbers,” the DLR analysts wrote.
Cattle and calves on feed totaled 10.7 million head on Aug. 1, up 1 percent from a year ago and in line with what analysts were expecting, based on a pre-report survey by Dow Jones.
Marketings of fed cattle during July totaled 1.91 million, slightly below 2011. On average, analysts were expecting a 1.6 percent increase in marketings.
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