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US feedlot cattle herd sets August record - just

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The US Department of Agriculture’s monthly on-feed report released Friday afternoon showed the number of cattle in US feedyards with a capacity of 1,000 or more head as of August 1 at 100.2% of a year ago and a new record for that date in the current data series but just barely so.

 

The on-feed number was just 19,000 head larger than the previous high for August set last year.

 

The on-feed number was 0.4 percentage point below the average guess of analysts participating in the Urner Barry survey.

 

Year-on-year comparisons

The placement number for July was 97.9% of a year ago, 1.6 percentage points below the average guess.

 

The range of the guesses for placements was 3.4% under to 8.5% above a year ago.

 

Marketings for July were reported at 106.9% of a year ago, very near the average guess.

 

July had one more weekday than in 2018.

 

Herd total

USDA reported 11.112m head in the nation’s feedyards as of August 1, down 3.2% from 11.480m the previous month.

 

That compares with 11.093m a year ago and a five-year average for that date of 10.323m head.

 

The average of analysts’ estimates for the on-feed figure was 11.160m head.

 

Compared with averages

Placements for July were 1.705m head, 6.1% over the five-year average of 1.607m.

 

USDA reported marketings, or those sent to slaughter, in July at 2.002m head.

 

The marketing figure was 12.7% above the five-year average of 1.776m.

 

The data were viewed as neutral for futures, as the data came in near the expectations.

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