The latest cattle on feed report came in line with industry expectations. The US Department of Agriculture released the latest report Friday afternoon. Tom Leffler of Leffler Commodities told the Radio Oklahoma Network Friday afternoon this report was neutral and looks to have little bearing on the market.
"I really think when Monday rolls around we will not see this report really have any influence on the market," Leffler. " I think the market is going to be more concerned about the fact we saw record cash in the feedyards this week at $170, yet we could not keep the cattle market on the positive side and we closed today (Friday) with triple digit losses."
Cattle and calves on feed for slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 10.1 million head on October 1, 2014. The inventory was 1 percent below October 1, 2013. The inventory included 6.46 million steers and steer calves, up 1 percent from the previous year. This group accounted for 64 percent of the total inventory. Heifers and heifer calves accounted for 3.55 million head, down 3 percent from 2013.
Placements in feedlots during September totaled 2.01 million, 1 percent above 2013. Net placements were 1.94 million head. During September, placements of cattle and calves weighing less than 600 pounds were 460,000, 600-699 pounds were 340,000, 700-799 pounds were 437,000, and 800 pounds and greater were 770,000. For the month of September, placements are the second lowest since the series began in 1996.
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