The latest Cattle on Feed Report was released on Friday and showed that placements into feedlots with 1,000 or more head capacity totaled 1.62 million head in July. This was down 8.3% from July 2022 and was the lowest monthly placement total since July 2017.
There are a few possible explanations for the decline in placements. One possibility is that some cattle that might have been placed in July were instead placed in feedlots earlier in the year. Another possibility is that some heifers that would have normally been placed in feedlots were instead retained for breeding purposes.
Marketings were also down 5.3% from a year ago in July. This was the second consecutive month of declining marketings. The decline in marketings is likely due to the smaller number of cattle on feed.
As of August 1st, there were an estimated 11.03 million cattle on feed. This is down 2.3% from August 1, 2022 and is the lowest monthly total since September 2019.
The decline in cattle on feed is likely due to the contraction in beef cow and calf supplies in recent years. The number of beef cows in the United States has declined by about 10% since 2019. This decline has been driven by a number of factors, including high feed prices and low profitability.
The decline in cattle on feed is likely to support cattle prices in the near term. However, the long-term outlook for cattle prices is uncertain. The future of the beef industry will depend on a number of factors, including the cost of feed, the availability of labor, and consumer demand for beef.
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Categories: Ohio, Livestock, Beef Cattle, Dairy Cattle