USDA released the October Cattle on Feed report on Friday, October 25th. The most anticipated number in the report was the quarterly number of heifers on feed. Once per quarter, the report includes a breakdown of the number of steers and heifers on feed. The heifers on feed have been some evidence of any herd rebuilding beginning. The report indicated 40,000 fewer heifers on feed October 1 than last October 1. That is less than one percent below last year. It is the second largest number of heifers on feed for October 1 in the data going back to 1996.
The continued large number of heifers on feed does not indicate much herd rebuilding in the works. The drought monitor map indicates some drought across most of the country likely reducing some enthusiasm for heifer retention. But, on the other hand, longer feeding periods mean that heifers are on feed longer, which would keep the number on feed higher. A few more spayed heifers have been imported from Mexico this year than last, also contributing to more heifers on feed.
Now for the headline numbers. Feedlot marketings in September were two percent larger than the year before. That translates to almost 2,000 head per day more than last year. Placements were two percent smaller than a year ago. More marketings and fewer placements resulted in the total number of cattle on feed being 4,000 head fewer than last October 1. The number on feed was less than one-tenth of one percent below a year ago, so not much really but, it was the first month with fewer cattle in feedlots since June. All in all, the report did not offer much of a surprise.
Anderson, David. “Fewer Heifers on Feed.” Southern Ag Today 4(44.2). October 29, 2024. Permalink
