Placements End Up Being Friendly in the May First Cattle on Feed Report- Dr. Derrell Peel Offers His AnalysisFri, 24 May 2019 16:35:03
On Friday, the US Department of Agriculture released their May first Cattle on Feed Report. According to the summary of the 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 11.8 million head on May 1, 2019. The inventory was 2 percent above May 1, 2018. This is the highest May 1 inventory since the series began in 1996.
"Placements in feedlots during April totaled 1.84 million head, 9 percent above 2018. Net placements were 1.78 million head. During April, placements of cattle and calves weighing less than 600 pounds were 355,000 head, 600-699 pounds were 250,000 head, 700-799 pounds were 447,000 head, 800-899 pounds were 495,000 head, 900-999 pounds were 210,000 head, and 1,000 pounds and greater were 85,000 head.
"Marketings of fed cattle during April totaled 1.93 million head, 7 percent above 2018."
To review all of the numbers, click or tap here.
After the report was released on Friday, Radio Oklahoma Ag Network Farm Director Ron Hays talked with Oklahoma State University Extension Livestock Market Economist Dr. Derrell Peel, who offered his analysis of the report. Peel told Hays that the Placements number actually came in under the average trade guess ahead of the report- as the "trade" was expecting close to thirty percent more placements than seen in April of 2018.
You can listen to the complete conversation between Dr. Peel and Hays by clicking on the Listen Bar below.
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