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USDA's Cattle on Feed report showed September 1 feedlot inventories at 10.98 million head, down 1.3% from last year and the first year-over-year decline since December 2016. August placements fell 9% year over year, partly due to the Tyson Foods beef plant fire on August 9.
An Oklahoma State economist expects plenty of new-crop calves to be marketed this fall, with feeder supplies ample through 2020.
Ample feeder supplies through 2020 point to continued pressure on feeder cattle prices. The placement drop and delayed marketings from the plant disruption may shift some supply timing but do not change the overall outlook.
feedstuffs.comKrissa WelshansSep 23, 2019After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
