Beef Buzz News
No Surprises Seen in Latest Cattle on Feed Report- Dr. Derrell Peel Sees Placements Continuing to Rise
Sat, 25 Jun 2016 11:55:46 CDT
Oklahoma State University Extension Livestock Market Economist Derrell Peel sees few if any surprises in the latest USDA Cattle on Feed report, released on Friday afternoon. Dr. Peel says "placements and marketings were both about as expected- the on feed total comes in about two percent up year over year, which was exactly what was expected."
According to USDA- "Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 10.8 million head on June 1, 2016. The inventory was 2 percent above June 1, 2015.
"Placements in feedlots during May totaled 1.88 million head, 10 percent above 2015. Net placements were 1.81 million head. During May, placements of cattle and calves weighing less than 600 pounds were 305,000 head, 600- 699 pounds were 250,000 head, 700- 799 pounds were 479,000 head, and 800 pounds and greater were 850,000 head. Marketings of fed cattle during May totaled 1.79 million head, 5 percent above 2015."
To review the complete report, click here.
After the report was released, Radio Oklahoma Ag Network Farm Director Ron Hays talked with Peel about the report, who says that this report simply shows the industry is on track to build numbers of cattle this year and likely the next couple of years- "On January 1, we had a bigger estimated feed supply and so that says the cattle are coming at us and we're seeing that happen now with these bigger placements month over month and we're going to see that for many more months going forward."
By clicking on the LISTEN BAR below, tou can listen to their full conversation about the report and where it indicates we are in the continuing efforts to rebuild the US cattle herd and available supplies of beef to enter into the pipeline that winds up on the dinner table of our nation's consumers. Comments from Dr. Peel will be featured Monday on the Beef Buzz- to be heard on great radio stations across the region that are a part of the Radio Oklahoma Ag Network.
Ron Hays talks about the latest Cattle on Feed Report with Cattle Market Watcher Derrell Peel
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