The latest Cattle on Feed report was released on March 22nd by the National Agricultural Statistics Service (NASS) and it shows a significant increase in placements in feedlots in February.
The latest Cattle on Feed report from USDA indicates that placements in feedlots during February totaled 1.89 million head. That is 10 percent above February 2023. Placements were the highest for February since the report series began in 1996.
That was Robin Schmahl, a hedging strategist with AgMarket.net. Schmahl says the placement numbers could start to shift the way analysts look at the overall cattle herd in the U.S.
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.8 million head on March 1, 2024. The inventory was 1 percent above March 1, 2023. Marketings of fed cattle during February totaled 1.79 million head, that is 3 percent above 2023.
Schmahl says the market reaction to the Cattle on Feed report was mostly in-line with how the market typically responds to the monthly report.
That was Robin Schmahl with www.AgMarket.net
