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Cattle placements into feedlots drop 8%
Placements of cattle into U.S. feedlots fell 8% from July 2022 to July 2023.
The USDA says the monthly placements total was 1.618 million head, with that year-to-year decline tied to lower feed prices, better pasture conditions, and generally tighter numbers after aggressive marketings earlier in this year. That decrease was despite heavy U.S. feeder cattle imports from Mexico boosting supplies. These cattle will mostly head to market during the first quarter of 2024.
Marketings during July were 5% below last year at 1.727 million head because of tighter ready numbers, while the total number of cattle on feed in the U.S. on August 1st was 2% lower at 11.03 million head.
The numbers could be supportive for cash, wholesale, and futures prices, but that will also depend on beef demand.
Comparisons for Brownfield states:
Iowa: On Feed: 620,000 head, up 2% from August 1st, 2022; Placements: 51,000 head, 12% lower than July 2022; Marketings: 59,000 head, 5% more than last year
Kansas: On Feed: 2.35 million head, up slightly from August 1st, 2022; Placements: 410,000 head, 8% lower than July 2022; Marketings: 450,000 head, 1% more than last year
Minnesota: On Feed: 95,000 head, up 12% from August 1st, 2022; Placements: 9,000 head, 10% lower than July 2022; Marketings: 13,000 head, 7% less than last year
Nebraska: On Feed: 2.28 million head, down 2% from August 1st, 2022; Placements: 430,000 head, 4% lower than July 2022; Marketings: 465,000 head, 5% less than last year
South Dakota: On Feed: 170,000 head, up 3% from August 1st, 2022; Placements: 21,000 head, 19% lower than July 2022; Marketings: 29,000 head, 3% less than last year
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