Cattle on Feed Down 10 Per Cent at July29 August 2013
US - The August Cattle on Feed report revealed feedyards held 1.722 million head, the lowest total since 2008 and down 10.4 per cent summer 2012.
Ron Plain writes: USDA-NASS says the number of cattle placed on feed during July was well below pre-release trade forecasts making this a bullish report. USDA said July placements of cattle into large feed yards (over 1,000 head capacity) were 10.4per cent lower than in July 2012.
The 1.722 million head placed was the fewest for any July since 2008. The average of pre-release trade forecasts was for July placements to be down 2.5per cent, writes Ron Plain, University of Missouri .
USDA said marketings of fed cattle from large feed yards during July totaled 2.000 million head, up 4.5per cent compared to July 2012 and the most for any July since 2008. The trade predicted July marketings would be up 4.4per cent .
July steer and heifer slaughter was up 4.5per cent compared to a year ago. There was one extra marketing day in July compared to a year earlier.
The number of cattle on feed in large feedlots at the start of August was down 5.9per cent compared to August 2012. The pre-release trade forecast was for the on-feed number to be down 4.2per cent .
This is the twelfth consecutive month that the number of cattle on feed has been below the year-ago level. The August on-feed number is the lowest for any August since 2010.
The number of cattle placed on feed weighing less than 600 pounds was down 22.0per cent from the previous July.
Placements of feeders weighing 600 to 700 pounds were down 15.4per cent ; placements weighing 700 to 800 pounds were down 3.2per cent , and placements weighing more than 800 pounds were down 4.0per cent compared to a year earlier.
The calculated average weight of cattle placed on feed during July was up 1.5per cent from July 2012.
The average retail price for choice beef during July was a record $5.357 per pound. That was up 6.3 cents from June, up 34.4 cents from July 2012, and up 5.7 cents from the old record set in March of this year. The average retail price of all fresh beef was $4.956/lb, which is also a record.
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