Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.0 million head on May 1, 2017. The inventory was 2 percent above May 1, 2016.
Placements in feedlots during April totaled 1.85 million head, 11 percent above 2016. Net placements were 1.78 million head. During April, placements of cattle and calves weighing less than 600 pounds were 348,000 head, 600-699 pounds were 255,000 head, 700-799 pounds were 490,000 head, 800-899 pounds were 495,000 head, 900-999 pounds were 190,000 head, and 1,000 pounds and greater were 70,000 head.
Marketings of fed cattle during April totaled 1.70 million head, 3 percent above 2016.
Other disappearance totaled 66,000 head during April, 13 percent below 2016.
Analysts surveyed had expected the total number of cattle on feed as of May 1 at 100.8% of a year ago, with placements in April at 106.5% and cattle marketed at 101.8% of the previous year.
Troy Vetterkind at Vetterkind Cattle Brokerage says he wouldn’t sell futures at this level as cash prices are much higher and likely won’t converge until the last two weeks of the contract month.
Nebraska feedlots, with capacities of 1,000 or more head, contained 2.45 million cattle on feed on May 1, according to the USDA’s National Agricultural Statistics Service. This inventory was up 1 percent from last year.
Placements during April totaled 395,000 head, up 4 percent from 2016.
Fed cattle marketings for the month of April totaled 390,000 head, up 3 percent from last year. Other disappearance during April totaled 15,000 head, down 5,000 head from last year.