U.S. Cattle on Feed Update – Feb ’20
Executive Summary
U.S. cattle on feed figures provided by USDA were recently updated with values spanning through the end of Jan ’20. Highlights from the updated report include:
Placements in feedlots rebounded seasonally from the previous month during Jan ’20 but finished lower on a YOY basis for the first time in the past five months, declining up 0.6%. Placements finished below average analyst expectations of a 1.4% increase.
Placements for those weighing 700-799 pound declined most significantly on a YOY basis throughout Jan ’20, finishing down 3.6%, while placements weighing 800 pounds or more declined 2.0%. Placements weighing 600-699 pounds increased by 2.2% on a YOY basis throughout the month while placements weighing 600 pounds or less increased 2.6%.
Total placements in feedlots declined 1.6% on a YOY basis throughout the ’18-’19 production season, however annual placement rates remained 2.8% above three year average figures. ’19-’20 YTD marketings have rebounded 4.6% on a YOY basis throughout the first third of the production season, despite the most recent YOY decline.
Cattle placements weighing under 700 pounds increased 2.4% on a YOY basis during Jan ’20, finishing higher for the third consecutive month. Cattle placements weighing under 700 pounds finished 3.9% lower on a YOY basis throughout the ’18-’19 production season, however ’19-’20 YTD placements weighing under 700 pounds have rebounded by 2.2% on a YOY basis throughout the first third of the production season.
Cattle placements weighing 700 pounds or more declined 2.8% on a YOY basis during Jan ’20, finishing lower for just the second time in the past 12 months. Cattle placements weighing 700 pounds or more increased 0.1% on a YOY basis throughout the ’18-’19 production season while ’19-’20 YTD placements weighing 700 pounds or more have increased an additional 7.0% on a YOY basis throughout the first third of the production season, despite the most recent decline.
Marketings of fed cattle increased 1.1% on a YOY basis during Jan ’20, finishing higher for the second consecutive month. The increase in marketings was slightly greater than average analyst expectations of a 0.7% increase. ’18-’19 annual marketings of fed cattle increased 1.3% YOY, reaching an 11 year high, while ’19-’20 YTD marketings have increased an additional 0.6% on a YOY basis throughout the first third of the production season.
- U.S. cattle and calves on feed for the slaughter market as of Feb 1st increased on a YOY basis for the fourth consecutive month, finishing up 2.2% and reaching a 12 year high seasonal level.
- Placements in feedlots declined 1.4% YOY during Jan ’20, finishing lower on a YOY basis for the first time in the past five months.
- Marketings of fed cattle increased 1.1% on a YOY basis during Jan ’20, finishing higher on a YOY basis for the second consecutive month.
Placements in feedlots rebounded seasonally from the previous month during Jan ’20 but finished lower on a YOY basis for the first time in the past five months, declining up 0.6%. Placements finished below average analyst expectations of a 1.4% increase.
Placements for those weighing 700-799 pound declined most significantly on a YOY basis throughout Jan ’20, finishing down 3.6%, while placements weighing 800 pounds or more declined 2.0%. Placements weighing 600-699 pounds increased by 2.2% on a YOY basis throughout the month while placements weighing 600 pounds or less increased 2.6%.
Total placements in feedlots declined 1.6% on a YOY basis throughout the ’18-’19 production season, however annual placement rates remained 2.8% above three year average figures. ’19-’20 YTD marketings have rebounded 4.6% on a YOY basis throughout the first third of the production season, despite the most recent YOY decline.
Cattle placements weighing under 700 pounds increased 2.4% on a YOY basis during Jan ’20, finishing higher for the third consecutive month. Cattle placements weighing under 700 pounds finished 3.9% lower on a YOY basis throughout the ’18-’19 production season, however ’19-’20 YTD placements weighing under 700 pounds have rebounded by 2.2% on a YOY basis throughout the first third of the production season.
Cattle placements weighing 700 pounds or more declined 2.8% on a YOY basis during Jan ’20, finishing lower for just the second time in the past 12 months. Cattle placements weighing 700 pounds or more increased 0.1% on a YOY basis throughout the ’18-’19 production season while ’19-’20 YTD placements weighing 700 pounds or more have increased an additional 7.0% on a YOY basis throughout the first third of the production season, despite the most recent decline.
Marketings of fed cattle increased 1.1% on a YOY basis during Jan ’20, finishing higher for the second consecutive month. The increase in marketings was slightly greater than average analyst expectations of a 0.7% increase. ’18-’19 annual marketings of fed cattle increased 1.3% YOY, reaching an 11 year high, while ’19-’20 YTD marketings have increased an additional 0.6% on a YOY basis throughout the first third of the production season.