The June Cattle on Feed report from The Ohio State University brings surprising news about the cattle industry. It provides insights into feedlots and has caused experts to reconsider their market predictions.
As of June 1, feedlots with a capacity of 1,000 or more head had around 11.55 million cattle on feed. This is 2.9 percent lower than last year, continuing a nine-month trend of declining numbers.
The report's biggest surprise was the higher-than-expected number of cattle placed into feedlots in May, reaching 1.96 million head. This represents a 4.6 percent increase compared to May 2022, surpassing expectations. It's the largest number of May placements since 2020.
The rise in placements was seen in most weight categories, except for the 900-999 pound group, which decreased by 2.3 percent. Placements of lighter-weight cattle (less than 600 pounds to 800-899 pounds) increased significantly, contributing to the overall surge.
Regional differences were also noted. Nebraska had a 13.9 percent increase in placements, likely influenced by drought conditions. Texas showed an interesting contrast, with placements of lighter-weight cattle rising by 7.1 percent while placements of heavier cattle (over 800 pounds) declined by 8.7 percent.
Cattle marketing were slightly higher, up 1.8 percent compared to last year. However, attention now shifts to the upcoming summer months to see how cattle on feed numbers evolve. Typically, these numbers decrease during summer, reaching a low point in August before rebounding for the fall season. This year's decline and the proportion of heifers will shape discussions on cattle and beef supplies moving forward.
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Categories: Ohio, Livestock, Beef Cattle