U.S. Cattle on Feed Update – Jan ’18
Executive Summary
U.S. cattle on feed figures provided by USDA were recently updated with values spanning through the end of Dec ’17. Highlights from the updated report include:
The cattle on feed inventory included 7.34 million steers and steer calves, up 4.5% from 2017 levels, and 4.15 million heifers and heifer calves, up 15.9% from the previous year.
Placements in feedlots during Dec ’17 totaled 1.80 million head, up 14,000 head, or 0.8%, from December of last year and reaching a seven year seasonal high for the month of December. Placements have finished higher on a YOY basis over 14 consecutive months through Dec ’17. Placements for those weighing 600 pounds or less increased the most on a YOY basis throughout Dec ’17, finishing up 8.0%, followed by placements weighing 800 pounds or more (+3.0%). The gains more than offset declines in placements for those weighing 700-799 pounds (-1.1%) and 600-699 pounds (-6.8%). Total placements in feedlots increased 8.8% YOY throughout the ’16-’17 production season, finishing at a six year high, and are up an additional 8.5% throughout the first quarter of the ’17-’18 production season.
Dec ’17 cattle placements under 700 pounds increased by 5,000 head, or 0.6%, on a YOY basis, finishing higher for the 13th time in the past 14 months and reaching a four year seasonal high for the month of December. Cattle placements under 700 pounds declined 5.5% throughout the ’15-’16 production season, finishing at the lowest annual figure on record, but rebounded by 10.2% throughout the ’16-’17 production season and are up an additional 11.2% throughout the first quarter of the ’17-’18 production season.
Dec ’17 cattle placements 700 pounds or heavier increased by 9,000 head, or 1.0%, on a YOY basis, finishing at a record seasonal high for the month of December. Cattle placements 700 pounds or heavier increased 7.9% YOY throughout the ’16-’17 production season, finishing at a record annual high, and are up an additional 5.7% throughout the first quarter of the ’17-’18 production season.
Marketings of fed cattle during Dec ’17 totaled 1.75 million head, down 25,000 head, or 1.4%, from December of last year. The YOY decline in marketings of fed cattle was the first experienced throughout the past 17 months. Marketings of fed cattle remained 2.9% above three year average seasonal figures for the month of December, however. Marketings of fed cattle increased 6.8% throughout the ’16-1’7 production season and remain up an additional 2.4% throughout the first quarter of the ’17-’18 production season, despite the Dec ’17 YOY decline. Other disappearance totaled 74,000 head during Dec ’17, up 19,000 head, or 34.5%, from the previous year.
- U.S. cattle and calves on feed for the slaughter market totaled 11.49 million head on Jan 1st, finishing 8.3% higher on a YOY basis. The YOY increase in the cattle on feed supply was the 13th experienced in a row while the cattle on feed supply reached a six year seasonal high for the month of January.
- Dec ’17 placements in feedlots increased on a YOY basis for the 14th consecutive month, finishing up 0.8% to a seven year seasonal high for the month of December. Placements for those weighing 600 pounds or less increased the most on a YOY basis throughout Dec ’17, finishing up 8.0%.
- Marketings of fed cattle finished lower on a YOY basis for the first time in the past 17 months during Dec ’17, finishing down 1.4%. Marketings of fed cattle remained 2.9% above three year average seasonal figures for the month of December, however.
The cattle on feed inventory included 7.34 million steers and steer calves, up 4.5% from 2017 levels, and 4.15 million heifers and heifer calves, up 15.9% from the previous year.
Placements in feedlots during Dec ’17 totaled 1.80 million head, up 14,000 head, or 0.8%, from December of last year and reaching a seven year seasonal high for the month of December. Placements have finished higher on a YOY basis over 14 consecutive months through Dec ’17. Placements for those weighing 600 pounds or less increased the most on a YOY basis throughout Dec ’17, finishing up 8.0%, followed by placements weighing 800 pounds or more (+3.0%). The gains more than offset declines in placements for those weighing 700-799 pounds (-1.1%) and 600-699 pounds (-6.8%). Total placements in feedlots increased 8.8% YOY throughout the ’16-’17 production season, finishing at a six year high, and are up an additional 8.5% throughout the first quarter of the ’17-’18 production season.
Dec ’17 cattle placements under 700 pounds increased by 5,000 head, or 0.6%, on a YOY basis, finishing higher for the 13th time in the past 14 months and reaching a four year seasonal high for the month of December. Cattle placements under 700 pounds declined 5.5% throughout the ’15-’16 production season, finishing at the lowest annual figure on record, but rebounded by 10.2% throughout the ’16-’17 production season and are up an additional 11.2% throughout the first quarter of the ’17-’18 production season.
Dec ’17 cattle placements 700 pounds or heavier increased by 9,000 head, or 1.0%, on a YOY basis, finishing at a record seasonal high for the month of December. Cattle placements 700 pounds or heavier increased 7.9% YOY throughout the ’16-’17 production season, finishing at a record annual high, and are up an additional 5.7% throughout the first quarter of the ’17-’18 production season.
Marketings of fed cattle during Dec ’17 totaled 1.75 million head, down 25,000 head, or 1.4%, from December of last year. The YOY decline in marketings of fed cattle was the first experienced throughout the past 17 months. Marketings of fed cattle remained 2.9% above three year average seasonal figures for the month of December, however. Marketings of fed cattle increased 6.8% throughout the ’16-1’7 production season and remain up an additional 2.4% throughout the first quarter of the ’17-’18 production season, despite the Dec ’17 YOY decline. Other disappearance totaled 74,000 head during Dec ’17, up 19,000 head, or 34.5%, from the previous year.