Cattle Inventory In Feedlots Down Year-Over-Year

When looking at USDA's February cattle on feed report, livestock analyst Michael McConnell said there were a few key surprises.

“Well, placements still are relatively slower than they have in the past couple of years with relatively tight cattle supplies," McConnell said.  "The real standout feature is that marketings have been down so sharply, which has been reflecting the fact that we've seen really light steer and heifer slaughter over the past several weeks as well.”

Due in part, McConnell noted, to recent expensive fed cattle supplies.

“As of February 1st, about 25% of the cattle that were in feedlots had been on feed for about 150 days," he noted.  "That compares to the same last year, we were only about 20% of cattle have been on feed for 150 days.”

Which McConnell said reflects more market-ready cattle inventories in feedlots.

“Price conditions for cattle remain relatively elevated both on the feeder and the fed cattle side," McConnell said.  "And so as a result, we're seeing the slowdown activity and both coming into and going out of feedlots slow down a little bit compared to where they typically are this time of year.”

With cattle inventory in feedlots down 2% from one year ago.

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