US cattle on feed numbers increase to 11.1 million
23/11/2009
US feedlot inventories again increased compared with a year ago, according to the latest USDA Cattle on Feed report. The number of US cattle on feed rose by 1.5% as at 1 November (year-on-year), totalling 11.1 million head.
Placements during October, at 2.47 million head, were 1.5% higher than a year earlier, and were smaller than pre-report estimates (which expected placements to be up 2.6%). This marks the fourth consecutive month that numbers have increased compared to last year.
Feedlots continue to place heavier animals on feed, which should maintain the bias towards heavier weights of fed cattle and the increased likelihood of more cattle being graded Choice into early 2010 (Steiner Consulting).
Placements of cattle weighing 363 kg or heavier accounted for 25.7% of October placements. Last year such cattle made up 23.8% of total placements while the five-year average was 18.1%.
According to the USDA, marketings of fed cattle during October totalled 1.76 million, 3.3% below 2008. Marketings were smaller than pre-report estimates (which expected marketings to be 2.9% lower).
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