On Today's Ag Perspectives Podcast- Ron Hays talks with Dr. Derrell Peel about the October Cattle on Feed ReportSat, 22 Oct 2022 09:00:57 CDT
Senior Farm and Ranch Broadcaster Ron Hays got on the phone with OSU Extension Livestock Market Economist Dr. Derrell Peel on Friday afternoon after the release of the latest USDA Cattle on Feed Report- a quarterly version with it being October, which provides us a breakdown of steers and heifers in the pipeline.
The report shows that Cattle on Feed finally hit lower on feed numbers- lower placements and higher marketings- On Feed down 1%, Placements down 4% and Marketings up 4%.
Hays and Dr. Peel discuss this slightly lower on feed number- Peel saying that this is the first time we have had a lower on feed number compared to a year earlier this year- we had a slightly lower cattle on feed number compared to a year earlier in December 2021.
On the four percent fewer placements compared to a year ago, Peel says "I think we have finally reached the end of the rope here- there just aren't more cattle out there."
Listen to the complete conversation that Dr. Peel and Hays head about the report and where that leaves us in the final days of 2022 and looking ahead into 2023- click on the link below.
According to the USDA on Friday:
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.4 million head on October 1, 2022.
The inventory was 1 percent below October 1, 2021. The inventory included 6.90 million steers and steer calves, down 2 percent from the previous year. This group accounted for 60 percent of the total inventory. Heifers and heifer calves accounted for 4.55 million head, up 1 percent from 2021.
Placements in feedlots during September totaled 2.08 million head, 4 percent below 2021. Net placements were 2.03 million head. During September, placements of cattle and calves weighing less than 600 pounds were 445,000 head, 600-699 pounds were 330,000 head, 700-799 pounds were 440,000 head, 800-899 pounds were 480,000 head, 900-999 pounds were 290,000 head, and 1,000 pounds and greater were 95,000 head.
Marketings of fed cattle during September totaled 1.86 million head, 4 percent above 2021.
Ron talks with Derrell Peel about the latest Cattle on Feed Report from USDA
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