The Good Friday-prompted early release of the USDA’s monthly Cattle on Feed Report didn’t provided anything unexpected and will likely be seen as neutral when the markets open again on Monday.
The cattle on feed inventory was 5 percent above April 1, 2010 and right on target with the average trade guess. The inventory included 7.12 million steers and steer calves, up 7 percent from the previous year. This group accounted for 63 percent of the total inventory. Heifers and heifer calves accounted for 4.10 million head, up 2 percent from 2010.
Placements in feedlots during March totaled 1.92 million, 3 percent above 2010. This was slightly lower than the average trade guess but well within the range of guesses. March, placements of cattle and calves weighing less than 600 pounds were 380,000, 600-699 pounds were 360,000, 700-799 pounds were 588,000, and 800 pounds and greater were 590,000.
Marketings of fed cattle during March totaled 1.99 million, 4 percent above 2010. This is the second highest fed cattle marketings for the month of March since the series began in 1996. It was 1{dfeadfe70caf58f453a47791a362966239aaa64624c42b982d70b175f7e3dda2} higher than the average trade guess and within the trade range.
To read the full report, CLICK HERE.
© Northern Ag Network 2011
Haylie Shipp
