Jerry Stowell with Country Futures recaps the report here:
The January cattle on feed report caught some by surprise with placements sharply higher than analysts estimates.
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 12.0 million head on January 1, 2022. The inventory was 1 percent above January 1, 2021. This is the second highest January 1 inventory since the series began in 1996. The inventory included 7.36 million steers and steer calves, down 1 percent from the previous year. This group accounted for 61 percent of the total inventory. Heifers and heifer calves accounted for 4.68 million head, up 2 percent from 2021.
Placements in feedlots during December totaled 1.96 million head, 6 percent above 2020. Placements were the highest for December since the series began in 1996. Net placements were 1.91 million head. During December, placements of cattle and calves weighing less than 600 pounds were 510,000 head, 600-699 pounds were 470,000 head, 700-799 pounds were 450,000 head, 800-899 pounds were 333,000 head, 900-999 pounds were 105,000 head, and 1,000 pounds and greater were 95,000 head.
Marketings of fed cattle during December totaled 1.86 million head, slightly above 2020. Marketings were the second highest for December since the series began in 1996.
Other disappearance totaled 54,000 head during December, 10 percent below 2020.
|January Cattle on Feed Report||USDA||Avg. Estimate||Range of Estimates|
|Cattle on Feed January 1||101.00%||99.7||99.5-100|
|Cattle Placed in December||106.00%||101.80%||100-104.2|
|Cattle Marketed in December||100.00%||100.90%||100.2-102.1|