OSU Economist Derrell Peel Says Latest Feedlot Count Shows More Lightweight PlacementsTue, 24 Jun 2014 07:20:36 CDT
Seven percent fewer cattle were placed into the nation's feedlots this past month- a number that was anticipated by those who were handicapping the numbers that were released by USDA in the monthly cattle on feed report. While expected, the numbers do point to the ever tightening supply of animals available to go into the nation's feedlots on a month by month basis.
Digging into the weight breakdowns, Oklahoma State University Livestock Market Economist Dr. Derrell Peel says that the heavier placements versus the lighter weight placements tell us a lot. Placements of cattle under 700 pounds was actually up nearly three percent compared to last year (including a ten percent increase in placements under 600 pounds). At the same time, placements of cattle over 700 pounds were down 12 percent indicating that feedlot supplies will tighten significantly into the fourth quarter of the year. May feedlot placements were heavily oriented to the Southern Plains with year over year increases in Texas and Kansas placements while Nebraska and Iowa placements were sharply lower than last year. This brings the June 1 Texas feedlot inventory above the Nebraska total for the first time since January.
Dr. Peel appeared on the daily program, Agriculture Today, with Eric Atkinson Monday morning- and his comments on the Cattle on Feed report as well as recent improvements in pasture conditions are featured in today's Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network- but is also a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show- and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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