May 24, 2010 USDA Cattle Report Neutral for packers but positive for producers
The USDA reports cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 10.5 million head on May 1, down 3.4 percent from a year ago, according to USDA’s monthly Cattle on Feed report.
Placements in feedlots during April totaled 1.63 million, 1.8 percent above 2009. Net placements were 1.54 million head. During April, placements of cattle and calves weighing less than 600 pounds were 365,000, while those 600-699 pounds totaled 300,000, cattle 700-799 pounds totaled 469,000, and those placed at 800 pounds and greater totaled 495,000.
Marketings of fed cattle during April totaled 1.85 million, 1 percent below 2009.
Other disappearance totaled 89,000 during April, up 29 percent from a year ago.
Rita Jane Gabbett from MeatingPlace reports that overall, the numbers came in within analysts’ expectations and in a note to investors, JP Morgan analyst Ken Goldman called the report “neutral” for packers.