Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   

Agricultural News


OSU Market Analyst Derrell Peel Digs Deeper Into the Placement Numbers of the Latest Cattle on Feed Report

Mon, 25 Nov 2019 15:02:06 CST

OSU Market Analyst Derrell Peel Digs Deeper Into the Placement Numbers of the Latest Cattle on Feed Report Mondays, Dr. Derrell Peel, Oklahoma State University Extension Livestock Marketing Specialist, offers his economic analysis of the beef cattle industry. This analysis is a part of the weekly series known as the "Cow Calf Corner" published electronically by Dr. Peel and Dr. Glenn Selk. Today, Dr. Peel dives deeper into last Friday's Cattle on Feed Report- read his analysis below or click here to listen to his conversation with Ron Hays last Friday right after the report was released.


The latest USDA Cattle on feed report pegs November 1 feedlot inventories at 11.83 million head in feedlots with a capacity of 1000 head or more. This is 101.2 percent of last year and up 4.8 percent from October as feedlot inventories increase to a seasonal peak. After two months of year over year decreases in cattle on feed totals, large October placements pushed November 1 inventories back above year earlier levels. Annual average feedlot inventories (twelve month moving average) peaked in August but there is a chance that strong placements in the next few months could push to a higher average total. In other words, feedlot inventories are close but may not yet be quite at a cyclical peak.



October placements were 110.2 percent of one year ago, a bit lower than the average of a wide range of pre-report estimates. Several factors contributed to the relatively large October placement number including the fact that the number was compared to a small 2018 value; indications of general delays in feeder cattle marketing this fall; and additional August and September delays related to the August packing plant fire. October marketings were 99.4 percent of last year, in line with pre-report expectations. Total placements in the six months from May to October were down 0.4 percent year over year while six-month total marketings were up 0.5 percent.



October placements were dominated by heavy weight feeders. Placements of feeder cattle over 800 pounds were up 29.5 percent year over year with placements 700-800 pounds up 14.9 percent compared to one year ago. Meanwhile, placement of feeders under 600 pounds were down 6.3 percent year over year. In the three months from August-October, placements of feeders over 700 pounds were up 4.6 percent year over year while placements of cattle less than 700 pounds were down 2.8 percent. This means that feedlots will be somewhat front-loaded for the next few months.



Regional contrasts are apparent in the latest cattle on feed report. October placements in Texas were up 14 percent year over year leading to a November on-feed total 107 percent of last year. In Colorado, a 23 percent increase in placements supported a feedlot inventory 105 percent of last year. Kansas placed 14 percent more cattle in October with a November feedlot inventory 103 percent of last year. By contrast, Nebraska placed only 3 percent more cattle in October compared to one year ago, leading to a November 1 feedlot total 95 percent of last year. Iowa had October placements up 7 percent year over year with a November 1 on-feed total 94 percent of one year ago.



Finally, my recent travels in Oklahoma and the Texas Panhandle have confirmed that the frustratingly slow wheat pasture development is finally making progress. I have noted a growing number of stockers on wheat recently and more wheat that appears nearly ready for turnout. Groups of cattle stockpiled on dry pasture waiting for wheat pasture are common. Western Oklahoma, in particular remains pretty dry and in some cases wheat stocking rates are lighter than usual.


Source- OSU Calf Calf Corner        



   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Lucas, Peterson Introduce RAMP-UP Act Helping Meat & Poultry Processors Access Inspection to Meet Demand  Fri, 03 Jul 2020 15:18:49 CDT
  • Congressman Frank Lucas Offers Legislation to RAMP-UP Federal Incentives for Small Meat Processors  Fri, 03 Jul 2020 13:28:52 CDT
  • AFR/OFU Thrilled with Introduction of RAMP-UP Act  Fri, 03 Jul 2020 09:06:49 CDT
  • Growth Energy Urges EPA to Combat Particulate Emissions with Low-Carbon Ethanol  Fri, 03 Jul 2020 09:04:49 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Thursday, July 2  Thu, 02 Jul 2020 15:53:10 CDT
  • OSU's Kim Anderson Talks with SUNUP about Wheat Prices and the Wrap of the Oklahoma Wheat Harvest   Thu, 02 Jul 2020 15:52:12 CDT
  • Thursday, July 2, 2020 Market Wrap-Up with Justin Lewis  Thu, 02 Jul 2020 14:33:06 CDT
  • Latest U.S. Drought Monitor Map Shows Exceptional Drought Has Now Crept Into Oklahoma  Thu, 02 Jul 2020 14:30:50 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Oklahoma City Farm Show KIS FUTURES, INC. Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment AFR Insurance Stillwater Milling Oklahoma Cattlemen's Association

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.