USDA Jan. 1 Cattle on Feed Report

By DTN Staff

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 11.9 million head on Jan. 1, 2024. The inventory was 2% above Jan. 1, 2023, USDA NASS reported on Friday.

The inventory included 7.20 million steers and steer calves, up 2% from the previous year. This group accounted for 60% of the total inventory. Heifers and heifer calves accounted for 4.74 million head, up 2% from 2023.

Placements in feedlots during December totaled 1.70 million head, 4% below 2022. Net placements were 1.64 million head. During December, placements of cattle and calves weighing less than 600 pounds were 440,000 head, 600-699 pounds were 410,000 head, 700-799 pounds were 380,000 head, 800-899 pounds were 279,000 head, 900-999 pounds were 110,000 head, and 1,000 pounds and greater were 85,000 head.

Marketings of fed cattle during December totaled 1.73 million head, 1% below 2022.

Other disappearance totaled 60,000 head during December, 11% above 2022.

MARKET REACTION

"Monday came and went, and the live cattle contracts didn't end up doing much of anything throughout the day," DTN Livestock Analyst ShayLe Stewart said in her daily DTN Closing Livestock Comments on Monday afternoon following the market's close. "Friday's Cattle on Feed report was looked at and soon forgotten about, given that its findings were deemed as neutral.

"The big factors that could affect this week's market and the rest of January are slaughter speeds, boxed beef prices and weather conditions."

February live cattle closed $0.60 lower at $173.77, April live cattle closed $0.47 lower at $176.90 and June live cattle closed $0.05 lower at $174.27 on Monday.

In the feeder cattle complex, futures closed mixed as the nearby contracts remained hesitant throughout the day, while deferred contracts leaned into the new week and its opportunity, Stewart said. January feeders closed $0.27 lower at $229.82, March feeders closed $0.67 lower at $231.27, and April feeders closed $0.37 lower at $237.10.

In her Midday Livestock Comments on Monday, Stewart said the Cattle on Feed report couldn't be blamed for the feeder cattle market's red ink, as the overall report was found to be neutral.

"Even though placements came in slightly above year-ago levels, there were fewer cattle placed than a month ago, which continues to echo the fact that feedlot inventories may be full, but there are fewer feeders left to be sought and had in the country, Stewart said.

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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/….

	USDA Actual	Average Estimate	Range
On Feed Jan. 1	102%	102.2%	101.4-102.5%
Placed in December	96%	95.4%	91.5-98.0%
Marketed in December	99%	99.2%	98.2-100.7%

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