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.
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.
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.