WASHINGTON, D.C. – Ahead of the February Cattle on Feed report, cash fed cattle traded steady to mostly $1 higher, despite the volatility created mid-week by the Russian invasion of Ukraine.
According to DTN Livestock Analyst ShayLe Stewart, “Given the political circumstances of the world as Russia blasts war on Ukraine, it’s likely that Friday’s USDA Cattle on Feed report has little effect on the market,” while noting there are still some interesting factors to consider in the report.
There were 12.199 million head of cattle and calves on feed on February 1st, 1% above a year ago and the largest total for the month on record.
There were 1.999 million cattle placed into U.S. feedlots during January 2022. That’s down 1% from January 2021, with concerns about high feed costs partially canceling out the impact of poor pasture conditions and tight hay supplies in many of the major feeding areas.
Roughly three quarters of the monthly total weigh less than 800 pounds.
January marketings were 3% below the year before at 1.773 million head, with a generally slower processing pace due to COVID-19 infections at some facilities.
The numbers were close to pre-report expectations and mostly look neutral for cash prices, depending on demand and whether producers decide to resume herd liquidation.
One of producers’ biggest fears moving forward say analysts, is that there will be a glut of cattle to market that will negatively affect the cash cattle market.
COLORADO
The number of cattle and calves on feed for the slaughter market in Colorado feedlots with a capacity of 1,000 head or larger was estimated at 1,140,000 head as of February 1, 2022. The latest inventory was up 1 percent from January 1, 2022 and up 2 percent from February 1, 2021.
Cattle feeders with 1,000 head or larger capacity marketed an estimated 185,000 head of fed cattle during January 2022, up 9 percent from the previous month and up 3 percent from the January 2021 marketings.
An estimated 200,000 cattle and calves were placed on feed during January 2022, 21 percent above last month and up 3 percent from the January 2021 placements. Of the number placed in January, 20 percent weighed less than 600 pounds, 23 percent weighed from 600 to 699 pounds, 28 percent weighed from 700 to 799 pounds, 20 percent weighed 800 to 899 pounds, and 10 percent weighed 900 pounds or greater.
Other disappearance for January was estimated at 5,000 head, no change from last month or last year.
MINNESOTA
Cattle and calves on feed for the slaughter market in Minnesota feedlots with a capacity of 1,000 or more head totaled 100,000 head on February 1, 2022, according to the latest USDA, National Agricultural Statistics Service – Cattle on Feed report. This was unchanged from January but down 13 percent from February 1, 2021.
Placements of cattle and calves in Minnesota feedlots with a capacity of 1,000 or more head during January totaled 12,000 head, up 9 percent from December but down 20 percent from last year.
Marketings of fed cattle from Minnesota feedlots with a capacity of 1,000 or more head during January totaled 11,000 head, down 27 percent from December and down 21 percent from last year.
Other disappearance totaled 1,000 head.
NEBRASKA
Nebraska feedlots, with capacities of 1,000 or more head, contained 2.66 million cattle on feed on February 1, according to the USDA’s National Agricultural Statistics Service. This inventory was up 2% from last year.
Placements during January totaled 535,000 head, unchanged from 2021.
Fed cattle marketings for the month of January totaled 460,000 head, down 1% from last year.
Other disappearance during January totaled 15,000 head, up 5,000 head from last year.
IOWA
Cattle and calves on feed for the slaughter market in Iowa feedlots with a capacity of 1,000 or more head totaled 610,000 head on February 1, 2022, according to the latest USDA, National Agricultural Statistics Service – Cattle on Feed report. This was up 2 percent from January but down 2 percent from February 1, 2021. Iowa feedlots with a capacity of less than 1,000 head had 585,000 head on feed, up 3 percent from last month and up 3 percent from last year. Cattle and calves on feed for the slaughter market in all Iowa feedlots totaled 1,195,000 head, up 2 percent from last month and up slightly from last year.
Placements of cattle and calves in Iowa feedlots with a capacity of 1,000 or more head during January 2022 totaled 110,000 head, up 29 percent from December but unchanged from January 2021. Feedlots with a capacity of less than 1,000 head placed 85,000 head, up 37 percent from December and up 39 percent from January 2021. Placements for all feedlots in Iowa totaled 195,000 head, up 33 percent from December and up 14 percent from January 2021.
Marketings of fed cattle from Iowa feedlots with a capacity of 1,000 or more head during January 2022 totaled 98,000 head, up 7 percent from December but unchanged from January 2021. Feedlots with a capacity of less than 1,000 head marketed 63,000 head, up 110 percent from December and up 40 percent from January 2021. Marketings for all feedlots in Iowa were 161,000 head, up 32 percent from December and up 13 percent from January 2021. Other disappearance from all feedlots in Iowa totaled 9,000 head.
Note: This report is a combination of estimates from the USDA Cattle on Feed survey for Iowa feedlots with a capacity of 1,000 or more head and the Iowa Department of Agriculture and Land Stewardship-funded Cattle on Feed survey for Iowa feedlots with a capacity of less than 1,000 head.
KANSAS
Kansas feedlots, with capacities of 1,000 or more head, contained 2.54 million cattle on feed on February 1, according to the USDA’s National Agricultural Statistics Service. This inventory was up 1% from last year.
Placements during January totaled 480,000 head, unchanged from 2021.
Fed cattle marketings for the month of January totaled 420,000 head, down 7% from last year.
Other disappearance during January totaled 10,000 head, unchanged from last year.
TEXAS/OKLAHOMA
Note: This report contains results from the February 2022 Cattle on Feed Survey collected during the first two weeks of February. Data provided by Oklahoma and Texas producers are the foundation of the estimates made for the Southern Plains region.
Cattle and calves on feed for slaughter market in Texas feedlots with capacity of 1,000 head or more totaled 2.94 million head on February 1, 2022, up 1 percent from a year ago.
Producers placed 390 thousand head in commercial feedlots during January, down 4 percent from a year ago. Texas commercial feeders marketed 355 thousand head during January, up 1 percent from 2021.
On February 1, there were 2.60 million head of cattle and calves on feed in the Northern High Plains, 89 percent of the state’s total. The number on feed across the area was up 1 percent from last year and up slightly from the January 1 total. January placements in the Northern High Plains totaled 348 thousand head, down 12 percent from the December total. Marketings were down 11 percent from last month at 318 thousand head.
