U.S. Cattle on Feed Update – Jan ’21
Executive Summary U.S. cattle on feed figures provided by the USDA were recently updated with values spanning through the end of Dec ’20. Highlights from the updated report include:
- U.S. cattle and calves on feed for the slaughter market as of Jan 1st increased 0.1% YOY, finishing higher for the sixth consecutive month. The YOY change in the cattle on feed supply finished slightly above average analyst expectations.
- Placements in feedlots increased 0.8% on a YOY basis throughout Dec ’20, reaching a 15 year high seasonal level. Cattle placements weighing 700 pounds or more reached a record high seasonal level throughout the month. The YOY change in placements finished above analyst expectations.
- Marketings of fed cattle increased 1.0% on a YOY basis throughout Dec ’20, reaching a ten year high seasonal level. The YOY increase in marketings was largely consistent with analyst expectations.