Cattle on Feed Report 05/20 14:06
May 1 Cattle on Feed
By DTN Staff
USDA Actual Average Estimate Range
On Feed May 1 102% 101.5% 101.2-101.8%
Placed in April 99% 96.5% 93.6-97.8%
Marketed in April 98% 97.9% 97.7-98.0%
This article was originally posted at 2:06 p.m. CDT on Friday,
May 20. It was last updated at 2:51 p.m. CDT on Friday, May 20.
OMAHA (DTN) -- Cattle and calves on feed for the slaughter
market in the United States for feedlots with capacity of 1,000
or more head totaled 12.0 million head on May 1, 2022. The
inventory was 2% above May 1, 2021. This is the highest May 1
inventory since the series began in 1996, USDA NASS reported on
Placements in feedlots during April totaled 1.81 million head,
1% below 2021. Net placements were 1.76 million head. During
April, placements of cattle and calves weighing less than 600
pounds were 355,000 head, 600-699 pounds were 270,000 head, 700-
799 pounds were 415,000 head, 800-899 pounds were 489,000 head,
900-999 pounds were 210,000 head, and 1,000 pounds and greater
were 70,000 head.
Marketings of fed cattle during April totaled 1.89 million head,
2% below 2021.
Other disappearance totaled 54,000 head during April, 2% below
"Friday's Cattle on Feed report doesn't share any startling
unthought-of realities, but it sobers one's viewpoint moving
forward," said DTN Livestock Analyst ShayLe Stewart.
"First, even though this dead horse has been beaten enough
already, the U.S. sits with a pile of cattle on feed. Friday's
report shared that for the May 1 inventory, total on-feed
numbers equated to 11,967,000 head -- the highest May 1
inventory since the series began in 1996. The states that saw
the biggest year-over-year increase in cattle on feed were
California (up 5%), Colorado (up 5%), Nebraska (up 5%) and Texas
(up 3%). The states of Iowa (down 6%), Minnesota (down 9%) and
South Dakota (down 6%) all saw decreases. In the months ahead,
strong throughput will be incredibly important to keep the
market from falling into the trap of having a backlog of cattle
to work through.
"Second, it was surprising to still see placements at 99% of a
year ago, equating to 1,809,000 head, which was again fueled by
drought conditions. Compared to a year ago, the states with the
biggest jumps in placements were California (up 19%), Washington
(up 13%), Minnesota (up 8%) and Oklahoma (up 8%). When compared
to a month ago, most of the states saw a decrease in placements,
but the two states of California (up 7%) and Washington (up 9%)
still saw higher placement. Overall, though, compared to a month
ago, placements were down 9% throughout the U.S. The weight
divisions that saw the biggest year-over-year increase were
those weighing 600 to 699 pounds (up 20,000 head) and those
weighing 800 to 899 pounds (up 4,000 head).
"In the months ahead, it will be inherently important to watch
processing speeds, as throughout will gravely affect the
market's ability to demand stronger prices moving forward."
DTN subscribers can view the full Cattle on Feed reports in the
Livestock Archives folder under the Markets menu. The report is
also available at https://www.nass.usda.gov/.
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