AGRIBUSINESS: Cattle Numbers Fall
Cattle and calves on feed for slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.254 million head on Nov. 1, 2012. The inventory was 5% below Nov. 1, 2011 and 17,000 below the average trade guess in advance of the report.
Placements in feedlots during October totaled 2.180 million, 13% below 2011 and just 1,000 cattle more than the average trade guess in advance of the report. This is the lowest cattle placements for the month of October since the series began in 1996. Net placements were 2.10 million head.
During October, placements of cattle and calves weighing less than 600 pounds were 680,000, 600 to 699 pounds were 505,000, 700 to 799 pounds were 435,000 and 800 pounds and greater were 560,000.
Marketing of Cattle was set at 103% of year ago numbers as high feed costs keep producers selling animals as soon as they reach market weight and grade.