U.S. Cattle on Feed Update – Aug ’19
Executive Summary U.S. cattle on feed figures provided by USDA were recently updated with values spanning through the end of Jul ’19. Highlights from the updated report include:
- U.S. cattle and calves on feed for the slaughter market as of Aug 1st finished higher on a YOY basis for the 32nd consecutive month, increasing 0.2% to a record high seasonal level for the month of August. The cattle on feed supply finished 0.6% below analyst expectations, however.
- Jul ’19 placements in feedlots declined 2.1% YOY, finishing lower on a YOY basis for the third consecutive month. Placements weighing under 700 pounds declined 11.4% on a YOY basis throughout the month, more than offsetting a 4.1% YOY increase in placements weighing 700 pounds or more. Total placements finished 2.2% below analyst expectations.
- Marketings of fed cattle increased on a YOY basis for the third time in the past four months during Jul ’19, finishing up 6.9% to an 11 year seasonal high level. Marketings finished 0.5% above analyst expectations.