USDA launched the most recent “Cattle on Feed” report on Friday, revealing a list 3% under the identical interval final yr. The feedlot stock totaled 11.7 million head on December 1, 2022. This was the third consecutive month-to-month lower in 2022, in keeping with Oklahoma State College Extension Livestock Advertising and marketing Specialist Derrell Peel.
Placements in feedlots throughout November totaled 1.93 million head, down 2% from 2021, which Peel famous was a bit bigger than anticipated. Nevertheless, they had been nonetheless down for the third consecutive month.
Marketings of fed cattle throughout November totaled 1.89 million head, 1% above 2021 and the very best for November for the reason that collection started in 1996, USDA famous.
In response to Peel, drought pushed extra cattle into feedlots earlier this yr and stored feedlot totals greater for longer. Month-to-month inventories from February by way of June of 2022 weren’t solely greater yr over yr however had been at file month-to-month ranges within the cattle on feed knowledge collection that started in 1996, he defined.
Feedlot inventories sometimes peak within the late fall or winter—December—and attain a seasonal low in late summer season/early fall—September. Nevertheless, Peel identified that in 2021 and 2022, the seasonal peak has been in February with the low in August. Previously 5 years, the variation from the seasonal peak to the seasonal low has been about 890,000 head, about 8% of the typical annual feedlot complete.
Additional, Peel stated feedlot inventories decreased from November to December, which can sign the seasonal peak is already in place, “though it’s too early to make certain.”
“The final time that December feedlot inventories had been decrease than November occurred in 2016,” he defined. “In that occasion, feedlot inventories decreased in December and January earlier than leaping greater to a belated peak in June 2017.”
Peel stated he believes feedlot inventories is not going to probably transfer greater anytime in 2023 and that the November 2022 complete often is the peak for a lot of months.
“Time will inform.”
