According to USDA, all cattle and calves on feed in the United States in feedlots with capacity of 1,000 or more head totaled 11.4 million head on September 1, 2020. The inventory was 4 percent above September 1, 2019. This is the highest September 1 inventory since the series began in 1996.
Cattle placed into in feedlots during August totaled 2.06 million head, 9 percent above 2019. Net placements were 2.00 million head. During August, placements of cattle and calves weighing less than 600 pounds were 405,000 head, 600-699 pounds were 335,000 head, 700-799 pounds were 470,000 head, 800-899 pounds were 522,000 head, 900-999 pounds were 230,000 head, and 1,000 pounds and greater were 95,000 head.
The high placement numbers show that cattle are coming off grass early due to drought across much of the Midwest and high plains.
Marketings of fed cattle during August totaled 1.89 million head, 3 percent below 2019.
|September Cattle on Feed||September 2020||Est.||Range of Estimates|
Jerry Stowell, Country Futures, explains why the large placement number is bearish to the market.