U.S. Cattle on Feed Update – Dec ’19
Executive Summary
U.S. cattle on feed figures provided by USDA were recently updated with values spanning through the end of Nov ’19. Highlights from the updated report include:
Placements in feedlots declined seasonally from the previous month during Nov ‘19 but remained higher on a YOY basis for the third consecutive month, finishing up 4.9%. The 4.9% YOY increase in placements was above average analyst expectations of a 1.2% increase.
Placements for those weighing 600 pounds or less increased the most on a YOY basis throughout Nov ’19, finishing up 12.7%, followed by placements weighing 800 pounds or more (+2.8%), placements weighing 700-799 pounds (+1.7%) and placements weighing 600-699 pounds (+1.0%). Total placements in feedlots declined 1.6% on a YOY basis throughout the ’18-’19 production season, however annual placement rates remained 2.7% above three year average figures.
Nov ’19 cattle placements weighing under 700 pounds increased 7.2% on a YOY basis, finishing higher for just the second time in the past seven months. Cattle placements weighing under 700 pounds finished 3.9% lower on a YOY basis throughout the ’18-’19 production season.
Nov ’19 cattle placements weighing 700 pounds or more increased 2.3% on a YOY basis, finishing higher for the ninth time in the past ten months. Cattle placements weighing 700 pounds or more increased 0.1% on a YOY basis throughout the ’18-’19 production season.
Marketings of fed cattle during Nov ’19 finished 3.0% below November of last year, declining on a YOY basis for the third time in the past four months. The 3.0% YOY decline in marketings was slightly greater than average analyst expectations of a 2.6% decline. ’18-’19 annual marketings of fed cattle increased 1.3% YOY, reaching an 11 year high.
- U.S. cattle and calves on feed for the slaughter market as of Dec 1st increased on a YOY basis for the second consecutive month, finishing up 2.5% and reaching an eight year high seasonal level. The YOY increase in the cattle on feed supply was slightly above average analyst expectations of a 1.9% increase.
- Nov ’19 placements in feedlots increased 4.9% YOY, finishing higher on a YOY basis for the third consecutive month. The YOY increase in placements was above average analyst expectations of a 1.2% increase.
- Nov ’19 marketings of fed cattle declined 3.0% on a YOY basis, finishing lower on a YOY basis for the third time in the past four months. The YOY decline in marketings was slightly greater than average analyst expectations of a 2.6% decline.
Placements in feedlots declined seasonally from the previous month during Nov ‘19 but remained higher on a YOY basis for the third consecutive month, finishing up 4.9%. The 4.9% YOY increase in placements was above average analyst expectations of a 1.2% increase.
Placements for those weighing 600 pounds or less increased the most on a YOY basis throughout Nov ’19, finishing up 12.7%, followed by placements weighing 800 pounds or more (+2.8%), placements weighing 700-799 pounds (+1.7%) and placements weighing 600-699 pounds (+1.0%). Total placements in feedlots declined 1.6% on a YOY basis throughout the ’18-’19 production season, however annual placement rates remained 2.7% above three year average figures.
Nov ’19 cattle placements weighing under 700 pounds increased 7.2% on a YOY basis, finishing higher for just the second time in the past seven months. Cattle placements weighing under 700 pounds finished 3.9% lower on a YOY basis throughout the ’18-’19 production season.
Nov ’19 cattle placements weighing 700 pounds or more increased 2.3% on a YOY basis, finishing higher for the ninth time in the past ten months. Cattle placements weighing 700 pounds or more increased 0.1% on a YOY basis throughout the ’18-’19 production season.
Marketings of fed cattle during Nov ’19 finished 3.0% below November of last year, declining on a YOY basis for the third time in the past four months. The 3.0% YOY decline in marketings was slightly greater than average analyst expectations of a 2.6% decline. ’18-’19 annual marketings of fed cattle increased 1.3% YOY, reaching an 11 year high.