U.S. Cattle on Feed Update – Nov ’20
Executive Summary U.S. cattle on feed figures provided by the USDA were recently updated with values spanning through the end of Oct ’20. Highlights from the updated report include:
- U.S. cattle and calves on feed for the slaughter market as of Nov 1st finished 1.3% higher on a YOY basis, reaching a record high seasonal level but finishing slightly below analyst expectations.
- Placements in feedlots declined 11.0% on a YOY basis throughout Oct ’20, reaching a four year seasonal low level and finishing significantly below analyst expectations.
- Marketings of fed cattle declined 0.1% on a YOY basis throughout Oct ’20, finishing lower for the third time in the past four months. The YOY decline in marketings was slightly below analyst expectations.