Oklahoma's Latest Farm
And Ranch News
Monday, November 21, 2022
Turning the Corner- OSU’s Derrell Peel Sees Tighter Cattle Inventories into 2023 in Latest Cattle on Feed Report
The latest USDA Cattle on Feed Report was released on Friday afternoon and is being called friendly to bullish, depending on who you listen to. We talked after the numbers were released with Oklahoma State University's Dr. Derrell Peel who described the report as being "very well anticipated- it was actually a little bit friendly in terms of the placements being a little bit smaller but within the range of estimates and so this report is a continuation of what we have seen in the last month- I think we have finally turned the corner, it's taken several months to get here but we are going to see these inventories continue to tighten as we go forward."

Peel adds "for several months, because of the drought, we have marketed feeder cattle earlier than usual- they have gone into the feedlot and that has maintained feedlot inventories longer than we would have otherwise seen I think in the absence of the drought impact- but you can only do that for so long."

As for the actual numbers- Nov 1 On Feed 98.0% of last year, Oct Placements 93.9% and Oct Marketings 100.6%. Record low placement for the month of October since the data series started 1996. 

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