No big surprises were seen in the February USDA Cattle on Feed Report released on Friday, February 25, 2022 by NASS. Senior Farm and Ranch Broadcaster Ron Hays talked after the report with Dr. Derrell Peel of Oklahoma State University about the numbers and what they tell us about beef cattle pipeline numbers as we head into the month of March.
Dr. Peel says "I tell you, the pre report estimates exactly matching February One on feed totals that came in 1.3% up from a year ago, placements were 98.6% of a year ago and marketings 96.9% of a year ago- dead on with the pre report guesses."
The OSU economist says that the thing he keeps looking for is for tighter on feed numbers. "the thing I have been looking for really for several months is that fact that sooner or later these cattle on feed numbers have to come down. We have less cattle- the January 1 inventory numbers confirm we have less cattle in the country- you know the estimated feeder supply was down 2.6 percent and yet we have been able to hold these feedlot inventories at or above a year ago."
And he continues "you can do that for awhile- we sorta been pulling cattle ahead- feedlots like to keep their yards as full as possible." Cattle producers have been brining lighter weight yearlings to market off pasture for awhile- and feedyards have gladly bought the cattle for their feedlots- "we can do that for awhile- perhaps another month or two- but we can't all year at this pace and sooner or later it will catch up with us."
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