Derrell Peel Says Latest Cattle on Feed Report Shows Continuing Trend of Growing Feedlot InventoriesFri, 23 Jun 2017 21:39:19 CDT
The US Department of Agriculture released their latest Cattle on Feed Report on Friday afternoon- showing cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.1 million head on June 1, 2017. The inventory was 3 percent above June 1, 2016.
Placements in feedlots during May totaled 2.12 million head, 12 percent above 2016. Net placements were 2.05 million head.
Marketings of fed cattle during May totaled 1.95 million head, 9 percent above 2016.
Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel says the report did not really hold any big surprises. Dr. Peel told Radio Oklahoma Ag Network Farm Director Ron Hays that "this report, in many ways, is very similar to the report of a month ago with a relatively large placement number and a pretty strong marketing number continuing- yet despite that, we are starting to see these on feed inventories starting to grow."
Dr. Peel says that this is the result of herd rebuilding that has resulted in more beef calves being born and becoming available for the feedlot pipeline.
Peel and Hays talked about the report and other current market factors impacting the cattle market, including the overall export market, the potential of China and the lack of impact that banning fresh beef from Brazil provides. You can hear their complete conversation by clicking on the LISTEN BAR below.
To review the complete USDA Cattle on Feed report released on June 23rd, click or tap here.
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