U.S. Cattle on Feed Update – Oct ’20
Executive Summary U.S. cattle on feed figures provided by the USDA were recently updated with values spanning through the end of Sep ’20. Highlights from the updated report include:
- U.S. cattle and calves on feed for the slaughter market as of Oct 1st finished 3.8% higher on a YOY basis, reaching a record high seasonal level and finishing slightly above analyst expectations. The YOY increase in the cattle on feed supply was the largest experienced throughout the past two years on a percentage basis.
- Placements in feedlots increased 5.9% on a YOY basis throughout Sep ’20, reaching a nine year seasonal high level and finishing significantly above analyst expectations.
- Marketings of fed cattle increased 6.2% on a YOY basis throughout Sep ’20, reaching a 17 year seasonal high level. The YOY increase in marketings was largely consistent with analyst expectations.