The newest USDA Cattle on Feed report exhibits that the September 1 feedlot stock was 11.279 million head, 100.4 % of final yr. Feedlot inventories usually attain a seasonal low in August or September with the low occurring in August in 4 of the final ten years and 6 instances in September. The September 2022 stock was up 0.5 % from August, indicating that August was the low this yr. The August low was 975,000 head decrease, down 8.0 %, than the report on-feed stock in February 2022.
Feedlot inventories develop seasonally within the fall however the improve this yr is anticipated to be lower than the report ranges final yr. August placements within the cattle on feed report continued the development of latest months of enormous placements of light-weight cattle with fewer heavy placements. August placements had been 100.4 % of final yr.
Prior to now 4 months, from Could – August, whole placements had been down 0.6 % yr over yr with placements underneath 700 kilos up 5.3 % and placements over 700 kilos down 3.7 % in comparison with final yr. Previous placements of light-weight cattle counsel fewer cattle obtainable for placement going ahead.
The feedlot placement patterns this yr are in keeping with feeder cattle advertising information. In Oklahoma, since July 1, the mixed public sale quantity of feeder cattle has been 17.5 % above final yr however the share of these cattle that had been over 600 kilos has been a lot lower than regular. There are actually indications that extra feeder cattle have been marketed earlier and lighter weight than normal. The autumn run of calves in October and November needs to be noticeably decreased this yr.
Marketings from feedlots in August had been 106.4 % of final yr. There was another enterprise day in August in comparison with one yr in the past which accounts for a part of the rise however each day common marketings had been larger by 1.7 % yr over yr. Within the final 4 months, whole marketings have been up by 1.7 % over the identical interval final yr.
Each feedlot inventories and cattle slaughter have remained stubbornly excessive this yr on account of drought pressured motion of cattle in another country. Whole fed cattle slaughter up to now in 2022 is up 0.8 % because the 1.7 % lower in steer slaughter for the yr so far is offset by a 4.9 % improve in heifer slaughter. Whole cow slaughter is up 5.6 % to date this yr, pushed by a 13.4 % improve yr over yr in beef cow slaughter. Whole cattle slaughter is up 1.8 % yr over yr up to now in 2022, with feminine (cow plus heifer slaughter) accounting for 50.9 % of whole cattle this yr.
Cattle slaughter and beef manufacturing are projected to lower yr over yr within the fourth quarter however larger than anticipated beef manufacturing within the first three quarters of the yr seemingly imply that annual totals for beef manufacturing might be regular or fractionally larger yr over yr. Feedlot manufacturing, cattle slaughter and beef manufacturing are all anticipated to lower sharply in 2023.
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