USDA estimated there were 11.198 million head of cattle in large feedlots (1,000-plus head) as of Sept. 1, up 71,000 head (0.6%) from last year. August placements declined 1.4%, while marketings fell 3.6% from year-ago levels.
| Cattle on Feed Report | USDA(% of year-ago) | Average Estimate (% of year-ago) |
On Feed on Sept. 1 | 100.6 | 100.9 |
Placements in August | 98.6 | 99.0 |
Marketings in August | 96.4 | 96.6 |
Placements declined 4.8% for lightweights (under 600 lbs.), 4.4% for 7-weights and 1.6% for 8-weights. Feedlots placed the same number of 6-weight calves and heavyweights (1,000-plus lbs.) as last year. Placements increased 8.2% for 9-weights. On an individual state basis, placements declined 15,000 head in Kansas, 15,000 head in Nebraska, 25,000 head in Texas and 8,000 head in “other states.” Colorado placements increased 35,000 head from last year.
All of the categories were close to the average pre-report estimates. We anticipate limited market reaction on Monday.