Feedlot placements continue to reflect the weather-slowed pace of turning cattle.
Placements in January—feedlots with 1,000 head or more capacity—of 1.96 million head was 5.27% less (-109,000 head) than a year earlier, according to Friday’s Cattle on Feed report.
In terms of weight, 41.61% went on feed weighing up to 699 pounds; 49.72% weighing 700-899 pounds; 8.67% weighing 900 pounds or more.
Marketings in January of 1.91 million head were 2.80% more (+52,000 head) than the previous January.
Cattle on feed Feb. 1 were 11.68 million head, which was 0.41% more (+48,000 head) than a year earlier.
Although a bevy of analysts expected placements to be an additional 1-2% lower, markets will likely view the overall report as neutral.