Beef Buzz News
Favorable Numbers in Bullish Cattle on Feed Report Suggests Continued Currency in Beef Markets
Fri, 23 Nov 2018 11:04:41 CST
The USDA released its Cattle on Feed report for the November 1, 2018 on Wednesday morning. Radio Oklahoma Ag Network Farm Director Ron Hays reached out to OSU Extension Livestock Market Economist Dr. Derrell Peel for his reaction to the numbers in this month’s report. You can listen to their complete conversation by clicking or tapping the LISTEN BAR below at the bottom of the page.
“I think the market will react favorably to the November Cattle on Feed report,” Peel said. “Placements in October came in lower than expected and marketings came in a tiny bit higher than expected. It is bullish on sort of both ends in terms of the pre-report expectations. So, the market is going to like this. We’re holding the feedlot inventory in check so short-run reaction here should be very positive to this report.”
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.7 million head on November 1, 2018. The inventory was 3 percent above November 1, 2017.
Placements in feedlots during October totaled 2.25 million head, 6 percent below 2017. Net placements were 2.18 million head. During October, placements of cattle and calves weighing less than 600 pounds were 640,000 head, 600-699 pounds were 525,000 head, 700-799 pounds were 450,000 head, 800-899 pounds were 363,000 head, 900-999 pounds were 180,000 head, and 1,000 pounds and greater were 90,000 head.
Marketings of fed cattle during October totaled 1.89 million head, 5 percent above 2017.
Peel says this report suggests that the industry is keeping pace fairly well with this market and staying current. Combined, he says these numbers issued by the USDA show that the industry is dealing with larger supplies and larger overall beef production about as well as one could ever expect to. Placements came in perhaps a bit surprising, but Peel says that can be explained with early movement of stocker cattle pushed by producers taking advantage of this year’s ample opportunity for wheat pasture grazing. Peel says this report is consistent with the narrative he has been tracking all year and although the steer slaughter number has been stubborn to come up relative to where it was last year, he expects that gap to be closed as we approach the end of the year. Peel attributes much of this year’s ability to stay current to sustained robust demand that has helped to pull product through the market. He sees no reason for that demand situation to change in the near future.
Click here to see the USDA’s Cattle on Feed report for November 1, 2018 for yourself.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
Hear Peel and Hays breakdown the numbers in USDA's latest Cattle on Feed Report for November.
right-click to download mp3
WebReadyTM Powered by WireReady® NSI
Beef News
Cattle Industry Claims Key Victories in New Farm Bill with Funding Provisions for FMD Bank and EQIP Fri, 14 Dec 2018 10:36:58 CST
Pressure from Fundamentals, Nonstop Muddy Feedlot Conditions Finally Catches Up to the Markets Thu, 13 Dec 2018 12:12:56 CST
Pressure from Fundamentals, Nonstop Muddy Feedlot Conditions Finally Catches Up to the Markets Thu, 13 Dec 2018 12:04:02 CST
CattleFax Has a Wealth of Market Information on Tap for Producers at Upcoming Cattle Convention Wed, 12 Dec 2018 11:23:51 CST
NCBA's Kevin Kester Lights Fire Under USTR to Get US - Japan Trade Deal Negotiations Underway Tue, 11 Dec 2018 11:12:38 CST
OKC-Based Kirkpatrick Foundation Raises Eyebrows with Not-So-Subtle Pro-Vegan Messages Mon, 10 Dec 2018 12:18:30 CST
The Angus Cow- Unsung Hero of Certified Angus Beef Sat, 08 Dec 2018 16:03:01 CST
Today's Beef Cattle Doing Better at Providing a Great Eating Experience Every Time for Consumers Thu, 06 Dec 2018 19:55:13 CST
USMEF Chair-Elect Cevin Jones Says There is a Great Story to Tell Right Now in the Export Business Wed, 05 Dec 2018 09:54:57 CST
Cameron Bruett of JBS Says Traceability Should be an Industry Priority, But Shouldn't Be Rushed Tue, 04 Dec 2018 10:00:17 CST
Cameron Bruett of JBS-USA Addresses the Beef Industry's Problem with Perception vs. Reality Mon, 03 Dec 2018 15:15:11 CST
Angus Association's New Angus Link Program to Highlight Breed's Superior Genetic, Profit Potential Fri, 30 Nov 2018 09:45:09 CST
Former Chair John Pfeiffer Recounts the Certified Angus Beef Success Story - 40 Years in the Making Thu, 29 Nov 2018 11:31:59 CST
Chelsea Good of the Livestock Marketing Association Weighs in on the Cattle Traceability Debate Wed, 28 Nov 2018 10:25:24 CST
Chairwoman Dawn Caldwell Rebukes Critics' Claims About State Beef Council Federation's Work Tue, 27 Nov 2018 10:08:29 CST
Breaking Down the Dollars and Cents with Federation of State Beef Councils Chair Dawn Caldwell Mon, 26 Nov 2018 10:38:52 CST
Favorable Numbers in Bullish Cattle on Feed Report Suggests Continued Currency in Beef Markets Fri, 23 Nov 2018 11:07:02 CST
DOT Ready to Bend Its Hours of Service Rule for Livestock Haulers, Thanks to LMA Negotiations Wed, 21 Nov 2018 10:20:47 CST
NCBA Sets Its Expectations Low for Congress as the Tide of Power Shifts to Democrats' Control Tue, 20 Nov 2018 10:25:25 CST
Back to Work - NCBA's Colin Woodall Offers Fake Meat, WOTUS Brief as Dust Settles on Midterms Mon, 19 Nov 2018 13:18:17 CST
CME's Efforts Starting to Pay Off as Benefits of Work to Improve Cattle Contracts Becomes Apparent Fri, 16 Nov 2018 10:52:03 CST
NCBA's President-Elect Jennifer Houston Jumps into the Animal ID Disease Traceability Discussion Thu, 15 Nov 2018 12:44:25 CST
Year-to-Date Slaughter Numbers Suggest a Rapid Deceleration in the US Beef Cow Herd Expansion Wed, 14 Nov 2018 10:11:39 CST
Promising Pasture Conditions Spark Green Fever in Cattle Country as Producers Buy Up Stockers Tue, 13 Nov 2018 10:46:44 CST
Animal Rights Activists Stoop to Exploiting Religious Beliefs and Manipulating Data to Further Cause Mon, 12 Nov 2018 11:38:04 CST
Activists Succeed in Passing More Restrictions on Production Ag, Bringing Them Closer to Real Goal Fri, 09 Nov 2018 11:37:42 CST
NCBA Lobbyist Colin Woodall Sees Action in the Lame Duck on the 2018 Farm Bill Fri, 09 Nov 2018 05:14:18 CST
Ag Sec. Sonny Perdue Maintains USDA Authority Over 'Fake Meat,' But Says FDA will Have a Role Wed, 07 Nov 2018 22:12:23 CST
Certified Angus Beef Faces Its Next Big Hurdle- Raising the Bar on Consumer Trust to the Next Level Tue, 06 Nov 2018 11:30:16 CST
Certified Angus Beef's John Stika Says Brand's 40 Years of Success is Amazing, Continues to Grow Mon, 05 Nov 2018 14:26:36 CST
Oklahoma Wheat Pastures Look Promising for Grazing this Winter - Just as Soon as They Dry Out Fri, 02 Nov 2018 10:50:22 CDT
Zombie WOTUS Rises from the Dead in Carolina Court Case- NCBA Fighting to Return It to the Grave Thu, 01 Nov 2018 10:01:25 CDT
USDA Undersecretary Greg Ibach Shares Vision for a National Beef Production Traceability System Wed, 31 Oct 2018 09:50:35 CDT
Beef Demand Situation Looks Good by the Data, But Outside Threats Could Hinder Future Success Tue, 30 Oct 2018 10:06:56 CDT
Consumers Sending Market Clear Message: They Want High-Quality Beef and are Willing to Pay for It Mon, 29 Oct 2018 10:40:48 CDT
