WASHINGTON, D.C. – The USDA May Cattle on Feed Report out last Friday afternoon showed on feed numbers down just 1% from the same time last year.
Cattle and calves on feed totaled 11.6 million head on May 1, 2024.
The top four cattle feeding states all have May 1 inventories lower year over year. Texas has the largest inventory at 2.77 million head, down 0.7 percent from last year. Nebraska is number two with an inventory of 2.51 million, down 1.2 percent year over year. Kansas is the third largest cattle feeding state with a May 1 inventory of 2.30 million head, down 5.7 percent from one year ago. Colorado is number four with 0.950 million head, down 3.1 percent year over year. The top four feedlot states represent 73.8 percent of total inventories in feedlots with 1000 head or more of capacity.
April feedlot placements were 1.656 million head, down 5.8 percent year over year and the smallest April placement total since the pandemic reductions in April 2020. In the first four months of 2024, total placements are down 4.3 percent year over year, with placements of cattle weighing less than 800 pounds down 6.7 percent. Placements of cattle weighing 800 pounds and higher are unchanged from one year ago.
April feedlot marketings were 1.872 million head, up 10.1 percent year over year. April 2024 had two more business days compared to last year. After adjusting for the number of days, daily average marketings in April were about equal to April 2023. April marketings were 15.8 percent of the April 1 on-feed inventory, the highest monthly rate since August 2023.
“In terms of marketing data, it was interesting to see that compared to a month ago, all the states except Iowa and Minnesota saw greater month-over-month marketings, with Texas, Oklahoma, Kansas and Idaho seeing the greatest month-over-month increase,” observed DTN Livestock Analysts ShayLe Stewart. “That is thanks to none other than the rallying nature of the cash cattle market and feedlot managers’ willingness to actively market their showlists, week in and week out.”
Nevertheless, the average marketing rate over the past twelve months remains historically low. Marketings in the first four months of this year are down 0.6 percent year over year.
The slow pace of feedlot marketings continues to push fed cattle weights higher. The latest weekly data shows steer carcass weights at 923 pounds, up 32 pounds compared to one year ago, and heifer carcass weights of 848 pounds, up 28 pounds from one year ago. Increased carcass weights are partially offsetting reduced cattle slaughter and keeping beef production higher than otherwise.
Other disappearance totaled 56,000 head in April, also 10% above 2023.
Most of the report came in at or close to pre-report analyst expectations.
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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 950,000 head as of May 1, 2024. The latest inventory was 4 percent below last month and 3 percent below the May 1, 2023 inventory.
Cattle feeders with 1,000 head or larger capacity marketed an estimated 170,000 head of fed cattle during April 2024. This was 6 percent above the previous month’s marketings and 21 percent above the marketings one year earlier.
An estimated 135,000 cattle and calves were placed on feed during April 2024, unchanged from the previous month’s placements and 7 percent below the April 2023 placements. Of the number placed in April, 19 percent weighed less than 600 pounds, 15 percent weighed from 600 to 699 pounds, 22 percent weighed from 700 to 799 pounds, 26 percent weighed 800 to 899 pounds, and 19 percent weighed 900 pounds or greater.
Other disappearance for April, at 5,000 head, was the same as last month and the same as 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 110,000 head on May 1, 2024, according to the latest USDA, National Agricultural Statistics Service – Cattle on Feed report. This was up 5 percent from April and up 10 percent from May 1, 2023.
Placements of cattle and calves in Minnesota feedlots with a capacity of 1,000 or more head during April totaled 16,000 head, up 14 percent from March but unchanged from last year.
Marketings of fed cattle from Minnesota feedlots with a capacity of 1,000 or more head during April totaled 10,000 head, down 23 percent from March but unchanged from last year.
Other disappearance totaled 1,000 head.
NEBRASKA:
Nebraska feedlots, with capacities of 1,000 or more head, contained 2.51 million cattle on feed on May 1, according to the USDA’s National Agricultural Statistics Service. This inventory was down 1% from last year.
Placements during April totaled 445,000 head, up 3% from 2023.
Fed cattle marketings for the month of April totaled 465,000 head, up 13% from last year.
Other disappearance during April totaled 10,000 head, unchanged 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 660,000 head on May 1, 2024, according to the latest USDA, National Agricultural Statistics Service – Cattle on Feed report. This was unchanged from April but up 2 percent from May 1, 2023.
Iowa feedlots with a capacity of less than 1,000 head had 550,000 head on feed, up 1 percent from last month but unchanged from last year.
Cattle and calves on feed for the slaughter market in all Iowa feedlots totaled 1,210,000 head, up slightly from last month and up 1 percent from last year.
Placements of cattle and calves in Iowa feedlots with a capacity of 1,000 or more head during April 2024 totaled 89,000 head, down 15 percent from March and down 2 percent from April 2023.
Feedlots with a capacity of less than 1,000 head placed 67,000 head, up 24 percent from March and up 22 percent from April 2023.
Placements for all feedlots in Iowa totaled 156,000 head, down 2 percent from March but up 7 percent from April 2023.
Marketings of fed cattle from Iowa feedlots with a capacity of 1,000 or more head during April 2024 totaled 87,000 head, down 6 percent from March but up 10 percent from April 2023.
Feedlots with a capacity of less than 1,000 head marketed 60,000 head, up 28 percent from March and up 40 percent from April 2023.
Marketings for all feedlots in Iowa were 147,000 head, up 5 percent from March and up 20 percent from April 2023.
Other disappearance from all feedlots in Iowa totaled 4,000 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 2.30 million cattle on feed on May 1, according to the USDA’s National Agricultural Statistics Service. This inventory was down 6% from last year.
Placements during April totaled 370,000 head, down 12% from 2023.
Fed cattle marketings for the month of April totaled 460,000 head, up 15% from last year.
Other disappearance during April totaled 10,000 head, unchanged from last year
OKLAHOMA:
*Note: This report contains results from the May 2024 Cattle on Feed Survey collected during the first two weeks of May. 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 Oklahoma feedlots with capacity of 1,000 head or more totaled 320 thousand head on May 1, 2024, up 28 percent from a year ago.
Producers placed 44 thousand head in commercial feedlots during April, down 2 percent from a year ago.
Oklahoma commercial feeders marketed 53 thousand head during April, down 2 percent from 2023.
Other disappearance during April totaled 1 thousand head, unchanged from a year ago.
TEXAS:
Cattle and calves on feed for slaughter market in Texas feedlots with capacity of 1,000 head or more totaled 2.77 million head on May 1, 2024, down 1 percent from a year ago.
Producers placed 330 thousand head in commercial feedlots during April, down 11 percent from a year ago.
Texas commercial feeders marketed 385 thousand head during April, up 1 percent from 2023.
On May 1, there were 2.46 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 down 1 percent from last year and down 2 percent from the April 1 total.
April placements in the Northern High Plains totaled 299 thousand head, down 7 percent from the March total.
Marketings were up 19 percent from last month at 345 thousand head.
