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Cattle on Feed Report                 05/24 14:05

                        USDA Actual  Average Guess      Range
Cattle on Feed:
On Feed May 1             102.0%         103.1%     102.3-103.8%
Placed in April           109.0%         114.4%     109.7-118.9%
Marketed in April         107.0%         106.6%     105.9-107.1%

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 11.8 million head on May 1, 2019. The 
inventory was 2% above May 1, 2018. This is the highest May 1 
inventory since the series began in 1996, USDA reported Friday.

Placements in feedlots during April totaled 1.84 million head, 
9% above 2018. Net placements were 1.78 million head. During 
April, placements of cattle and calves weighing less than 600 
pounds were 355,000 head, 600-699 pounds were 250,000 head, 700-
799 pounds were 447,000 head, 800-899 pounds were 495,000 head, 
900-999 pounds were 210,000 head, and 1,000 pounds and greater 
were 85,000 head.

Marketings of fed cattle during April totaled 1.93 million head, 
7% above 2018.

Other disappearance totaled 60,000 head during April, 5% below 
2018.

"Even though these numbers continue to show growing inventory, 
on-feed levels and placed cattle numbers are well below 
estimated levels," said DTN Analyst Rick Kment. "This is 
expected to result in mixed trade direction Tuesday with 
increased inventory quickly offset by traders' anticipation of 
an even more bearish report. Cattle marketed through the month 
of April increased 7%, which beat pre-report estimates, focusing 
on continued aggressive product movement and demand support."

**

DTN subscribers can view the full Cattle on Feed report in the 
Livestock Archives folder under the Markets menu. The report is 
also available at https://www.nass.usda.gov/.


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