U.S. Cattle on Feed Update – Dec ’19
Executive Summary U.S. cattle on feed figures provided by USDA were recently updated with values spanning through the end of Nov ’19. Highlights from the updated report include:
- U.S. cattle and calves on feed for the slaughter market as of Dec 1st increased on a YOY basis for the second consecutive month, finishing up 2.5% and reaching an eight year high seasonal level. The YOY increase in the cattle on feed supply was slightly above average analyst expectations of a 1.9% increase.
- Nov ’19 placements in feedlots increased 4.9% YOY, finishing higher on a YOY basis for the third consecutive month. The YOY increase in placements was above average analyst expectations of a 1.2% increase.
- Nov ’19 marketings of fed cattle declined 3.0% on a YOY basis, finishing lower on a YOY basis for the third time in the past four months. The YOY decline in marketings was slightly greater than average analyst expectations of a 2.6% decline.