Cattle On Feed Numbers Are Very High

Agriculture officials say the numbers in USDA's Cattle on Feed Report are quite large.  Placements into feedlots in February topped 1-point-8 million head, that's a 7% hike over February 2017.  Marketing is up only 2%, leaving feed lots with 11.7 million head, a 9% jump from this time last year.  USDA Livestock analyst Shayle Shagam said those placements were up at the upper range of market expectations.

"Probabaly a lot of it reflects that you're still looking at some very, very dry conditions in the Southern Plains. Without the ability to keep those animals on winter pasture, without the ability to keep them on some sort of native grass, they've been moving onto feed lots."

A large number located to feed lots over the past three months, but they won't stay there for long.

"Those cattle are gonna be coming out," Shagam said.  "They're gonna put some pressure on cattle prices."

USDA Stud Steer last year at this time cost $135 a hundred weight.  The current price is closer to $126.  Prices this summer or fall could drop to $115 on average.

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