The most recent USDA Cattle on Feed report pegged the October 1 cattle on feed stock at 11.449 million head, down 0.9 % 12 months over 12 months. That is the primary 12 months over 12 months lower within the month-to-month on-feed stock since December 2021. Among the many largest feedlot states, on-feed totals in Texas and Nebraska stay greater 12 months over 12 months, up 3.3 and three.8 % respectively whereas feedlot totals are down in Kansas, 6.7 % decrease 12 months over 12 months and Colorado, down 5.3 % from final 12 months.
The quarterly breakdown of steers and heifers for October 1 confirmed that the variety of steers on feed was down 2.3 % from final 12 months whereas the variety of heifers was up 1.4 % 12 months over 12 months. The variety of heifers on feed signifies continued liquidation within the cattle herd with heifers on feed representing 39.7 % of whole feedlot inventories, the very best heifer on feed proportion in 21 years since October 2001. The variety of heifers on feed in Texas on October 1 was up 13.1 % 12 months over 12 months, giving Texas an unusually giant share of whole heifers on feed and the very best Texas whole for heifers on feed since 2001. That is in step with the extreme drought circumstances within the southern plains this 12 months.
September feedlot placements had been 96.2 % of final 12 months and the three.8 % 12 months over 12 months lower was the biggest month-to-month placement lower since July 2021. Placements of cattle from 600 – 900 kilos had been down 7.6 % 12 months over 12 months with placements below 600 kilos up 2.3 % 12 months over 12 months and placements over 900 kilos up 2.7 % 12 months over 12 months. September feedlot placements had been decrease in Texas (down 8.9 % 12 months over 12 months), Kansas, down 11.9 % and Colorado, down 4.5 % from final 12 months. Nonetheless, placements in Nebraska had been up 8.3 % 12 months over 12 months in September.
Feedlot marketings in September had been up 4.0 % 12 months over 12 months with elevated marketings in Nebraska, up 10.3 %, and Kansas, up 4.6 % and Colorado unchanged from final 12 months. Marketings from Texas feedlots had been down 1.2 % 12 months over 12 months in September. Complete feedlot marketings prior to now six months have averaged 1.4 % greater 12 months over 12 months.
Fed cattle slaughter in 2022 has averaged 0.9 % greater 12 months over 12 months, with steer slaughter down 1.6 % and heifer slaughter up 5.0 % in comparison with final 12 months. Labor points within the beef packing business seem to have improved as common each day (Monday-Friday) fed slaughter totals have elevated 3.5 % 12 months over 12 months. Each day fed slaughter reached 100,212 head on Tuesday, Could 17, 2022, topping 100,000 head for the primary time since December 2013. Each day fed slaughter has exceeded 100,000 head twelve occasions this 12 months. Common Saturday fed slaughter is down 24.8 % 12 months over 12 months in 2022. This one other indication that labor points have improved as packers have relied much less on Saturday slaughter regardless of elevated whole slaughter.
Drought has compelled extra cattle into feedlots in 2022, preserving placements greater and sustaining bigger feedlot inventories than in any other case would have been the case. The 12-month shifting common of feedlot inventories decreased this month for the primary time since October 2021. The most recent cattle on feed report means that these short-term impacts might have run their course which can result in lowering feedlot totals and diminished marketings going ahead.
SOurce: Oklahoma State College
