Oklahoma State University’s Dr. Derrell Peel says the November USDA Cattle on Feed Report says it’s more of the same with on feed numbers just slightly above November first of 2023. He says it’s happening despite the fact that we have fewer calves available because of smaller US Beef Cow herd. “Feedlots have been very creative and very good at finding ways to hold their inventories- obviously, they have an incentive to hold those capacities and they are going to do it as long as they can.”
How are feedlots staying relatively full? Peel says it starts with feeding heifers. Peel says “that’s probably the biggest factor as the October one numbers gave us that we are still about forty percent of the feedlot inventories being heifers and then the last part of that is that the fact that feedlots have continued to extend the days on feed. Even though they are actually placing less cattle- if you look at average placements, they have gone down but we have slowed them down in order to hold the inventory high- so we filling the tank slower but we are letting them out even slower than that and that keeps the level high at this point.”
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 12.0 million head on Nov. 1, 2024. The inventory was slightly above Nov. 1, 2023, USDA NASS reported on Friday.
Placements in feedlots during October totaled 2.29 million head, 5.3% above 2023. Net placements were 2.23 million head. During October, placements of cattle and calves weighing less than 600 pounds were 585,000 head, 600-699 pounds were 480,000 head, 700-799 pounds were 490,000 head, 800-899 pounds were 436,000 head, 900-999 pounds were 215,000 head, and 1,000 pounds.
Marketings of fed cattle during October totaled 1.85 million head, 4.7% above 2023.
Other disappearance totaled 55,000 head during October, unchanged from 2023.
