US Cattle Inventories on Feed Slightly Below Expectations

by webmaster

The latest report from the Agriculture Department reveals that U.S. cattle inventories on feed for the month ended Jan. 1 have increased compared to the previous year, but fell slightly short of analyst expectations.

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Cattle Inventory Figures

According to the USDA’s monthly Cattle on Feed Report, the total supplies of cattle on feedlots stood at 11.93 million head, representing a 2% increase from the same period last year. This figure, however, is slightly lower than the predicted 2.2% rise anticipated by analysts surveyed by The Wall Street Journal.

Placements of Cattle on Feed

The USDA’s report also indicates that placements of cattle on feed exceeded analysts’ forecasts. From Jan. 1, there were 1.7 million head of cattle placed, which marks a 4% decline compared to last year. Although this decrease is less significant than the anticipated 4.6% drop, it is still noteworthy.

Fed Cattle Marketed

For the month ended Jan. 1, the USDA reported that the total number of fed cattle marketed reached 1.725 million head, reflecting a 1% decrease from the prior year. This decline is slightly more significant than analysts’ prediction of a 0.8% drop in marketings.

Market Performance

On Friday’s trading session, the most-active cattle contract trading on the CME closed down 0.3% at $1.77050 per pound. Similarly, lean hog futures finished down 0.5% at 70.775 cents per pound.

Conclusion

While U.S. cattle inventories on feed have increased compared to last year, they fell slightly below analyst expectations. Placements of cattle on feed saw a smaller decline than anticipated, and the number of fed cattle marketed also experienced a more pronounced decrease. These figures suggest a nuanced landscape within the cattle industry. For further information, refer to the “USDA Monthly Cattle on Feed Data” in Dow Jones NewsPlus.

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