By: Derrell Peel, Oklahoma State University. Originally published by Drovers online.
The latest monthly cattle on feed report showed the January 1 inventory in feedlots (over 1,000 head) at 11.958 million head, 102.3 percent of one year ago. This is the largest January on-feed total since 2008.
Placements in December were up 3.5 percent year over year, the highest December level since 2011. December marketings were 5.3 percent higher year over year, the largest level since December 2010. December 2019 had one additional business day compared to a year earlier making daily average marketings for the month about equal to 2018.
The January cattle on feed report was well anticipated with placements, marketings and on-feed totals all close to pre-report expectations. The report is not expected to provoke much market response. Continue reading Large Feedlot Inventories To Start 2020