Expectations mostly mirrored USDA’s October Cattle on Feed report.
There were 2.09 million head placed in September, which was 2.04% more (+42,000 head) than last year. That was about 0.5% more than pre-report estimates. In terms of weight, 37.02% went on feed weighing less than 700 pounds, 44.67% weighing 700-899 pounds and 18.30% weighing 900 pounds or more.
Keep in mind the report accounts for feedlots with 1,000 head or more capacity.
Marketings in September of 1.74 million head were 1.11% more (+19,000 head) than a year earlier, which was in line with pre-report estimates.
Cattle on feed Oct. 1 of 11.28 million head were 1.07% less (-122,000 head) than the same time last year, which was also on par with expectations ahead of the report. Heifers and heifer calves represented 1.3% more of the on-feed total than last year. Year to year, there were 2.32% more (+100,000 head) heifers and heifer calves on feed.