U.S. Cattle on Feed Update – Apr ’18
Executive Summary
U.S. cattle on feed figures provided by USDA were recently updated with values spanning through the end of Mar ’18. Highlights from the updated report include:
The cattle on feed inventory included 7.54 million steers and steer calves, up 4.1% from 2017 levels, and 4.19 million heifers and heifer calves, up 14.0% from the previous year.
Placements in feedlots during Mar ’18 totaled 1.92 million head, down 196,000 head, or 9.3%, from March of last year. The YOY decline in placements was the first experienced throughout the past 17 months however placements remained at the second highest seasonal figure experienced throughout the past 11 years. Placements for those weighing 700-799 pounds declined the most on a YOY basis throughout Mar ’18, finishing down 15.9%, followed by placements weighing 600 pounds or less (-10.0%), placements weighing 800 pounds or more (-6.1%) and placements weighing 600-699 pounds (-3.4%). Total placements in feedlots increased 8.8% YOY throughout the ’16-’17 production season, finishing at a six year high, and remain up an additional 4.5% throughout the first half of the ’17-’18 production season, despite the most recently experienced decline.
Mar ’18 cattle placements under 700 pounds declined by 45,000 head, or 7.0%, on a YOY basis, finishing at a record seasonal low for the month of March. The YOY decline in cattle placements under 700 pounds was just the second experienced throughout the past 17 months. Cattle placements under 700 pounds increased 10.2% throughout the ’16-’17 production season and remain up an additional 5.9% throughout the first half of the ’17-’18 production season, despite the most recently experienced decline.
Mar ’18 cattle placements 700 pounds or heavier declined by 151,000 head, or 10.3%, on a YOY basis but remained at the second highest seasonal figure on record for the month of March. The YOY decline in cattle placements 700 pounds or heavier was the first experienced throughout the past 17 months. Cattle placements 700 pounds or heavier increased 7.9% YOY throughout the ’16-’17 production season, finishing at a record annual high, and remain up an additional 3.3% throughout the first half of the ’17-’18 production season, despite the most recently experienced decline.
Marketings of fed cattle during Mar ’18 totaled 1.84 million head, down 74,000 head, or 3.9%, from March of last year. The YOY decline in marketings of fed cattle was just the second experienced throughout the past 20 months. Marketings of fed cattle increased 6.8% throughout the ’16-’17 production season, finishing at a six year high, and remain up an additional 1.8% throughout the first half of the ’17-’18 production season, despite the most recently experienced decline. Other disappearance totaled 67,000 head during Mar ’18, up 11,000 head, or 19.6%, from the previous year.
- U.S. cattle and calves on feed for the slaughter market as of Apr 1st finished higher on a YOY basis for the 16th consecutive month, finishing up 7.4% to a 12 year seasonal high.
- Mar ’18 placements in feedlots declined on a YOY basis for the first time in the past 17 months, finishing down 9.3%.
- Marketings of fed cattle declined on a YOY basis for just the second time in the past 20 months during Mar ’18, finishing down 3.9%.
The cattle on feed inventory included 7.54 million steers and steer calves, up 4.1% from 2017 levels, and 4.19 million heifers and heifer calves, up 14.0% from the previous year.
Placements in feedlots during Mar ’18 totaled 1.92 million head, down 196,000 head, or 9.3%, from March of last year. The YOY decline in placements was the first experienced throughout the past 17 months however placements remained at the second highest seasonal figure experienced throughout the past 11 years. Placements for those weighing 700-799 pounds declined the most on a YOY basis throughout Mar ’18, finishing down 15.9%, followed by placements weighing 600 pounds or less (-10.0%), placements weighing 800 pounds or more (-6.1%) and placements weighing 600-699 pounds (-3.4%). Total placements in feedlots increased 8.8% YOY throughout the ’16-’17 production season, finishing at a six year high, and remain up an additional 4.5% throughout the first half of the ’17-’18 production season, despite the most recently experienced decline.
Mar ’18 cattle placements under 700 pounds declined by 45,000 head, or 7.0%, on a YOY basis, finishing at a record seasonal low for the month of March. The YOY decline in cattle placements under 700 pounds was just the second experienced throughout the past 17 months. Cattle placements under 700 pounds increased 10.2% throughout the ’16-’17 production season and remain up an additional 5.9% throughout the first half of the ’17-’18 production season, despite the most recently experienced decline.
Mar ’18 cattle placements 700 pounds or heavier declined by 151,000 head, or 10.3%, on a YOY basis but remained at the second highest seasonal figure on record for the month of March. The YOY decline in cattle placements 700 pounds or heavier was the first experienced throughout the past 17 months. Cattle placements 700 pounds or heavier increased 7.9% YOY throughout the ’16-’17 production season, finishing at a record annual high, and remain up an additional 3.3% throughout the first half of the ’17-’18 production season, despite the most recently experienced decline.
Marketings of fed cattle during Mar ’18 totaled 1.84 million head, down 74,000 head, or 3.9%, from March of last year. The YOY decline in marketings of fed cattle was just the second experienced throughout the past 20 months. Marketings of fed cattle increased 6.8% throughout the ’16-’17 production season, finishing at a six year high, and remain up an additional 1.8% throughout the first half of the ’17-’18 production season, despite the most recently experienced decline. Other disappearance totaled 67,000 head during Mar ’18, up 11,000 head, or 19.6%, from the previous year.