No Surprises Found in the May USDA Cattle on Feed Report- So Says OSU Economist Dr. Derrell PeelSat, 23 May 2020 16:44:08 CDT
Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel says that the latest USDA Cattle on Feed Report confirmed with actual numbers what was playing out in the backup of market ready cattle because of the COVID 19 debacle. The report shows a huge dropoff in the placements of cattle into feedlots as well as the marketings of cattle out of feedlots to the processing plants. He says "no surprises in this report- but it refects the unique situation that we find ourselves in at this time"
Dr. Peel talked with Radio Oklahoma Ag Network Farm Director Ron Hays after the report was released on Friday afternoon, May 22nd, just ahead of the three day Memorial Day Holiday. The first opportunity for the cattle futures market to respond to the USDA numbers will be Tuesday morning, May 26th.
The May USDA Cattle on Feed Report showed a drop of five percent for the total number of cattle on feed as of May 1, 2020 compared to May 1, 2019. Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.2 million head on May 1, 2020.
Placements in feedlots during April totaled 1.43 million head, 22 percent below 2019. Placements were the second lowest for April since the series began in 1996. Net placements were 1.36 million head.
During April, placements of cattle and calves weighing less than 600 pounds were 295,000 head, 600-699 pounds were 180,000 head, 700-799 pounds were 315,000 head, 800-899 pounds were 392,000 head, 900-999 pounds were 180,000 head, and 1,000 pounds and greater were 70,000 head.
Marketingsof fed cattle during April totaled 1.46 million head, 24 percent below 2019. April marketings are the lowest since the series began in 1996.
Listen to Ron Hays talk Cattle on Feed with Dr. Derrell Peel in this latest episode of the Beef Buzz- click on the LISTEN BAR at the bottom of this story.
The Beef buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is 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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