United States Cattle on Feed Up 3 Percent, Leffler Calls Report Slightly PositiveFri, 21 Aug 2015 17:38:04 CDT
The number of cattle in the nation's feedlots continued to increase with year over year gains for the fifth straight month. On Friday, the U.S. Department of Agriculture reported the number of cattle and calves on feed totaled 10 million head, as of August first. This was three percent above August 2014 and 1.7 percent below the five year average. Nebraska was up three percent, Kansas was up two percent and Texas was down one percent versus a year ago for cattle on feed. Radio Oklahoma Network's Leslie Smith interviewed Tom Leffler of Leffler Commodities after the report came out Friday afternoon. He said marketings came in close to the trade estimates and placements were two points lower than expected, so the report was slightly positive.
Placements in feedlots during July totaled 1.55 million head, one percent below 2014. Net placements were 1.49 million head. Leffler said placements were 14.6 percent lower than the five year average. This was the lowest July placements of the past 20 years and the second lowest monthly placement number for 2015. Nebraska's placements were up four percent, Kansas down one percent and Texas was down 11 percent versus a year ago.
During July, placements of cattle and calves weighing less than 600 pounds were 365,000 head, 600-699 pounds were 235,000 head, 700-799 pounds were 327,000 head, and 800 pounds and greater were 620,000 head. Leffler said the 800 plus pound category was up 19.2 percent. Placements for the 800 plus pound category were larger than the previous year for now 11 of the past 12 months.
Marketings of fed cattle during July totaled 1.73 million head, three percent below 2014. Marketings are the lowest for July since the series began in 1996. Other disappearance totaled 56,000 head during July, 11 percent below 2014.
On Friday, USDA also released the monthly cold storage report. The report contained little friendly news with all protein supplies continuing to increase. Leffler said beef supplies was down one percent from last month, but stocks were 32.4 percent larger than year ago. Pork supplies were 3.5 percent lower than last month, but 17.6 percent bigger than year ago.
"We continue to see our beef and pork supplies versus a year ago, still growing out there and overall meat - poultry, turkey, beef and pork continues to be at large levels," Leffler said. "That's going to be burdensome down the road if we cannot continue to move this beef, pork and poultry and turkey supplies out there."
Leffler also provided reaction to Pro Farmer's estimate of the nation's corn and soybean production. Pro Farmer pegs the 2015 U.S. corn crop at 13.323 billion bushels with an average yield of 164.3 bushels per acre. Pro Farmer pegs the 2015 U.S. soybean crop at 3.887 billion bushels with an average yield of 46.5 bushels per acre.
Click here to read the USDA Cattle on Feed report.
Click here to read the USDA Cold Storage report.
Click here for the Pro Farmer 2015 Corn, Soybean Crop Estimates
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