In this file:
· COF Down Slightly, Fed Cattle Higher Again
· USDA: United States Cattle on Feed Down Slightly
COF Down Slightly, Fed Cattle Higher Again
By Greg Henderson, AgWeb
November 19, 2021
Market leverage continues to move toward the cattle feeder. Early week bids of $132 only found a few takers. Later week sales in the South occurred at $133 to $134 per cwt., $2 to $4 higher. Dressed prices in the North jumped to $209 to $210 per cwt., $2 to $3 higher.
It seems doubtful cash will sustain that strength next week, since the packing industry will be operating a on a reduced schedule around the Thanksgiving holiday. Conversely, packers will be buying cattle for processing in late November and early December.
CME December live cattle futures rose 37.5 cents on Friday to $133.525, while February live cattle rose 45 cents to $137.70, up 1.2% for the week and the highest closing price since Sept. 1. January feeder cattle fell 45 cents to $160.925.
Cattle on Feed ...
United States Cattle on Feed Down Slightly
Source: National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States
Department of Agriculture (USDA) - November 19, 2021
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 November 1, 2021. The inventory was slightly below November 1, 2020.
Placements in feedlots during October totaled 2.25 million head, 2 percent above 2020. Net placements were
2.19 million head. During October, placements of cattle and calves weighing less than 600 pounds were 575,000 head,
600-699 pounds were 500,000 head, 700-799 pounds were 470,000 head, 800-899 pounds were 425,000 head,
900-999 pounds were 190,000 head, and 1,000 pounds and greater were 85,000 head.
Marketings of fed cattle during October totaled 1.79 million head, 5 percent below 2020.
Other disappearance totaled 59,000 head during October, 6 percent below 2020.
entire report (pdf):