The USDA says there were more cattle placed into feedlots than expected during January.
Placements grew by 3% to 2.017 million head, above most analysts’ estimates despite higher feed costs and mostly lower live cattle prices.
Most of the cattle placed weighed between 600 and 900 pounds and will be marketed in late spring into summer. By weight, placements of cattle weighing less than 600 pounds were 410,000 head, 600 to 699 pound placements were 440,000 head, and placements of cattle weighing 700 to 799 pounds were 575,000 head, while 800 to 899 pound placements were 417,000 head, 900 to 999 pound placements were 105,000 head, and placements of cattle weighing 1,000 pounds and up were 70,000 head.
