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U.S. Cattle on Feed Update – Dec ’21

  • December 27, 2021December 27, 2021
  • by Belinda Przybylski

Executive Summary

U.S. cattle on feed figures provided by the USDA were recently updated with values spanning through the end of Nov ’21. Highlights from the updated report include:

  • U.S. cattle and calves on feed for the slaughter market as of Dec 1st declined 0.4% on a YOY basis, remaining below previous year levels for the sixth consecutive month. The cattle on feed supply finished slightly below average analyst expectations.
  • Placements in feedlots increased 3.6% on a YOY basis throughout Nov ’21, finishing largely consistent with average analyst expectations. A 7.1% YOY increase in placements weighing less than 700 pounds more than offset a 0.2% YOY decline in placements weighing more than 700 pounds throughout the month.
  • Marketings of fed cattle increased 5.3% on a YOY basis throughout Nov ’21, reaching a record high seasonal level. The YOY increase in marketings was slightly larger than average analyst expectations.

Additional Report Details

According to the USDA, Dec 1st cattle and calves on feed for the slaughter market in the U.S. for feedlots with capacity of a thousand head or more increased seasonally to a nine month high level but remained 0.4% below previous year levels, reaching a three year low seasonal level for the month of November. The YOY decline in the cattle on feed supply was the sixth experienced in a row. The cattle on feed supply finished slightly below average analyst expectations of a level unchanged from previous year figures.

Nov ’21 placements in feedlots declined seasonally to a four month low level but remained 3.6% above previous year levels. The 3.6% YOY increase in placements was largely consistent with average analyst expectations of a 3.4% increase. YOY increases in placements were led by those weighing 600 pounds or less (+8.7%), followed by placements weighing 600-699 pounds (+5.4%) and 700-799 pounds (+1.3%). Placements weighing 800 pounds or more declined by 1.3% on a YOY basis throughout the month.

Total placements in feedlots declined 0.9% on a YOY basis throughout the ’19-’20 production season, reaching a four year low level. ’20-’21 annual placements rebounded by 0.2% on a YOY basis.

Cattle placements weighing under 700 pounds increased 7.1% on a YOY basis during Nov ’21, finishing above previous year levels for the second consecutive month. Cattle placements weighing under 700 pounds finished 0.2% above previous year levels throughout the ’19-’20 production season however ’20-’21 annual placements weighing under 700 pounds declined by 2.6% on a YOY basis, reaching a four year low level.

Cattle placements weighing 700 pounds or more declined 0.2% on a YOY basis during Nov ’21, reaching a five year low seasonal level. Cattle placements weighing 700 pounds or more declined 1.7% on a YOY basis throughout the ’19-’20 production season however ’20-’21 annual placements weighing 700 pounds or more rebounded by 2.1% on a YOY basis.

Marketings of fed cattle increased 5.3% on a YOY basis throughout Nov ’21, reaching a record high seasonal level. The YOY increase in marketings was the first experienced throughout the past five months. The 5.3% YOY increase in marketings was slightly larger than average analyst expectations of a 4.4% increase.

’19-’20 annual marketings of fed cattle declined 2.9% on a YOY basis from the 11 year high level experienced throughout the previous production season. ’20-’21 annual marketings rebounded by 3.1% on a YOY basis, reaching a 13 year high level.

U.S. Livestock Cold Storage Update – Dec ’21
U.S. Cattle & Hogs Production Update – Dec ’21
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  • U.S. Livestock & Meat Trade Update – May ’22
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  • U.S. Cattle on Feed Update – Apr ’22
  • U.S. Livestock Cold Storage Update – Apr ’22
  • U.S. Cattle & Hogs Production Update – Apr ’22
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