USDA’s latest Cattle on Feed report showed feedlot inventory at 11.6 million head, down 3% from last year. Placement levels increased 5% to 1.96 million, contrary to analyst expectations of just a 2% increase. What’s driving the numbers?
USDA Livestock Analyst Shayle Shagam says excessive dryness in the Southern Plains is likely the culprit. Extension Economist Josh Maples at Mississippi State University agrees drought is likely the driving factor and says the largest increase was in Nebraska, where placements were 14% higher than last May. Feedlot prices are likely luring more cattle into feedlots, as returns were very strong last month and overall positive for the year.
Read more on the placement and feedlot numbers from the latest Cattle on Feed report here.
Featured
-
Drought Conditions, Water Levels May Impact Remainder of 2023September 25, 2023 -
How Does a Government Shutdown Impact Agriculture?September 26, 2023 -
USDA Approves $70 Million for Conservation Efforts Among Underserved ProducersSeptember 25, 2023 -
ProAg is Prepared to Protect America’s Farmers and Ranchers During the Potential Government ShutdownSeptember 29, 2023 -
Studies Reveal Dairy Provides Pregnant Women Critical IodineSeptember 26, 2023