News
September cattle placements up 6% on year
Placements of cattle into U.S. feedlots were up sharply last month.
The USDA says September 2023 placements were 2.206 million head, above pre-report expectations and up 6% from September 2022. Those cattle will be marketed starting early next year.
Marketings for September were down 11% from a year ago at 1.663 million head, while the total number of cattle on feed at the start of the month was 11.58 million head, the highest October total since the series of reports began.
The on feed total does show higher than a year ago numbers of heifers and heifer calves.
The larger than expected placement and on feed categories could be viewed as negative for cash, wholesale, and futures prices, but that will also depend on beef demand.
Comparisons for Brownfield states:
Iowa: On Feed: 640,000 head, up 3% from October 1st, 2022; Placements: 88,000 head, 4% higher than September 2022; Marketings: 67,000 head, a decrease of 8% on the year
Kansas: On Feed: 2.5 million head, up 6% from October 1st, 2022; Placements: 505,000 head, 13% higher than September 2022; Marketings: 405,000 head, a decrease of 11% on the year
Minnesota: On Feed: 95,000 head, up 12% from October 1st, 2022; Placements: 14,000 head, steady with September 2022; Marketings: 13,000 head, a decrease of 28% on the year
Nebraska: On Feed: 2.42 million head, down 2% from October 1st, 2022; Placements: 610,000 head, 3% higher than September 2022; Marketings: 450,000 head, a decrease of 6% on the year
South Dakota: On Feed: 185,000 head, unchanged from October 1st, 2022; Placements: 49,000 head, 9% higher than September 2022; Marketings: 33,000 head, a decrease of 3% on the year
Add Comment