USDA Sept. 1 Cattle on Feed Report

20 Sep 2024

By DTN Staff

This article was originally published at 2:02 p.m. CDT on Friday, Sept. 20. It was last updated with additional information at 2:39 p.m. CDT on Friday, Sept. 20.

OMAHA (DTN) -- Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.2 million head on Sept. 1, 2024. The inventory was 1% above Sept. 1, 2023, USDA NASS reported on Friday.

Placements in feedlots during August totaled 1.98 million head, 1% below 2023. Net placements were 1.92 million head. During August, placements of cattle and calves weighing less than 600 pounds were 395,000 head, 600-699 pounds were 305,000 head, 700-799 pounds were 435,000 head, 800-899 pounds were 485,000 head, 900-999 pounds were 265,000 head, and 1,000 pounds and greater were 90,000 head.

Marketings of fed cattle during August totaled 1.82 million head, 4% below 2023.

Other disappearance totaled 54,000 head during August, 2% below 2023.

DTN ANALYSIS

"Friday's Cattle on Feed report came out almost exactly as predicted, which likely means that traders will have little issue with the report on Monday," said DTN Livestock Analyst ShayLe Stewart.

"In terms of the on-feed data, it's not necessarily surprising to see total on-feed numbers up slightly compared to a year ago given that placements were aggressive earlier this year, as feedlot managers were concerned about whether they'd be able to secure all the inventory they desired. Secondly, given the reduced slaughter speeds seen through July and August and given that cattle are spending more time in feedlots to finish out anyway, a 1% increase in total on-feed numbers isn't surprising.

"Regarding the placement data, the only weight division that saw greater placements in August of 2024 compared to August of 2023 was feeders weighing 900 to 999 pounds, which was up 20,000 head compared to a year ago. Otherwise, every single weight division of feeders placed came in lighter than in August of 2023. But compared to just a month ago, feeder cattle placements in August of 2024 (1,975,00 head) surpassed those placed in July of 2024 (1,702,000 head), which clearly indicates that the fall is already underway.

"All in all, I don't believe Friday's report will significantly affect the market on Monday, as traders will likely find the technical and fundamental support found throughout the week as more influential than Friday's Cattle on Feed report."

DTN subscribers can view the full Cattle on Feed reports in the Livestock Archives folder under the Markets menu. The report is also available at https://www.nass.usda.gov/….