Feedyard inventories declined for the 17th consecutive month in January 2014, according to USDA’s February 1, 2014, Cattle on Feed Report. Similar to the previous month, placements were up again during January.
According to the February 1 report, U.S. inventories in feedlots with 1,000 head or more capacity on February 1, 2014, totaled 10.8 million, which is down 3 percent from a year ago at this time. The February 1 figure is up from the 10.6 million head posted a month earlier on January 1. Similar to the previous month, steers accounted for 65 percent and heifers 35 percent of cattle on feed on February 1. Heifer placements continue to lag last year’s placement rate by 8 percent.
During January, placements in feedlots totaled 2.03 million head, up 9 percent from January 2013. Prior to the report’s publication, analysts were mixed with placement projections, but the 9 percent increase was higher than most in the industry had estimated. Of cattle placed in January, 55 percent arrived weighing more than 700 pounds while 45 percent weighed less than 700 pounds.
During that same time, feedlots marketed fewer head than they placed, with a total of 1.79 million marketed. This represents a 5 percent decline in marketings during January 2014 compared to January 2013. Marketings of fed cattle for feedlots with a capacity of 1,000 or more head totaled 87.8 percent of all cattle marketed from feedlots in the U.S. in 2013, compared to 88.5 percent in 2012.
Total feedlot capacity for feedlots with a capacity of 1,000 or more head totaled 16.8 million head on January 1, 2014, compared to 16.9 million head one year ago.
