U.S. Cattle on Feed Update – Oct ’19
Executive Summary U.S. cattle on feed figures provided by USDA were recently updated with values spanning through the end of Sep ’19. Highlights from the updated report include:
- U.S. cattle and calves on feed for the slaughter market as of Oct 1st declined on a YOY basis for the second consecutive month, finishing down 1.1%. The YOY decline in the cattle on feed supply was greater than average analyst expectations of a 0.2% decline.
- Sep ’19 placements in feedlots increased 2.0% YOY, finishing higher on a YOY basis for the first time in the past five months. The YOY increase in placements was significantly below average analyst expectations of a 7.6% increase, however.
- Sep ’19 marketings of fed cattle increased 1.1% on a YOY basis, however the YOY increase in marketings finished below average analyst expectations of a 1.5% YOY increase.