In the Cattle Market
Numbers as expected in November ‘Cattle on Feed’ report.
December 3, 2024
by Hannah Baker, University of Florida / IFAS Extension
The November Cattle on Feed report was released Friday, Nov. 22. The total number of cattle in feedlots was roughly 0.3% higher than the previous year and slightly higher than prereport estimates, but not enough to cause second thoughts.
The number of cattle on feed as of Nov. 1 was 11.986 million head compared to last month’s 11.956 million head. This is in line with previous years, as we typically see a large increase of calves entering feedlots starting in the early fall months and then leveling off to a degree as we enter the winter months.
Marketings in October totaled 1.8 million head and were within prereport estimates — slightly on the higher end, but still within the estimated range. This is 5% higher year over year and 8% higher than September 2024. This increase is in line with seasonal trends, and we should start seeing marketings slow in November and December.
From Aug. 1 to Nov. 1, a total of 8.1 million feeder calves entered feedlots compared to 7.9 million feeder calves entering feedlots during this same time frame last year.
Placements in October were also within prereport estimates and totaled at 2.2 million head. This is 5% higher year over year and 6% higher than September 2024.
In October, weight categories of lighter-weight calves [less than 600 pounds (lb.), 600-699 lb., and 700-799 lb.] saw increases in placements compared to last month, respectively, by 160,000 head, 150,000 head and 20,000 head. Conversely, there was a decline in all other weight groups consisting of heavier-weight cattle compared to last month (800-899 lb. and 900-1,000+ lb.). This does not come as a surprise knowing October is the busiest month of shipping season, when young calves are making that transition from the ranch to the feedlot.
From Aug. 1 (July) to Nov. 1 (October), a total of 8.1 million feeder calves entered feedlots compared to 7.9 million feeder calves entering feedlots during this same time frame last year. The conversation lately has been that we are seeing a steady number of cattle on feed month to month due to cattle being on feed for more days compared to the historical average, not because placements are higher. This observation, along with other factors, is still true, even if we are seeing what looks like slightly more calves entering feedlots this fall.
Recurring drought conditions out West caused the fall run of calves to happen a little earlier this year, with placements in July being almost 6% higher year over year. Last month’s Cattle on Feed report showing that heifers are still accounting for 40% of all cattle on feed alludes to the fact a lot of those calves entering feedlots in July and this fall are more than likely heifer calves that producers are not able to retain just yet. Year-to-date placements in 2024 are still lower than 2023 placements by roughly 210,000 head, confirming that cattle inventory has not increased, and adding to the story that this year has been different from any other concerning the ins and outs of the cattle industry.
Editor’s note: This article is reprinted with permission from the Livestock Marketing Information Center, where it first appeared Nov. 25, 2024. Hannah Baker is a state extension specialist focused on beef and forage economics at the University of Florida’s Range Cattle Research and Education Center, Ona, Fla.
Angus Beef Bulletin EXTRA, Vol. 16, No. 12-A
Topics: Feedyard , Marketing , Industry News , News
Publication: Angus Beef Bulletin
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