Cattle on Feed Report                06/21 14:05

June 1 Cattle on Feed Up 2%

                        USDA Actual  Average Guess      Range
Cattle on Feed:
On Feed June 1            102.0%         101.3%     101.0-101.9%
Placed in May              97.0%          95.9%       93.2-98.9%
Marketed in May           101.0%         100.8%      99.8-101.1%

OMAHA (DTN) -- Cattle and calves on feed for the slaughter 
market in the United States for feedlots with capacity of 1,000 
or more head totaled 11.7 million head on June 1, 2019. The 
inventory was 2% above June 1, 2018. This is the highest June 1 
inventory since the series began in 1996, USDA reported on 
Friday.

Placements in feedlots during May totaled 2.06 million head, 3% 
below 2018. Net placements were 1.99 million head. During May, 
placements of cattle and calves weighing less than 600 pounds 
were 370,000 head, 600-699 pounds were 305,000 head, 700-799 
pounds were 500,000 head, 800-899 pounds were 539,000 head, 900-
999 pounds were 235,000 head, and 1,000 pounds and greater were 
115,000 head.

Marketings of fed cattle during May totaled 2.07 million head, 
1% above 2018.

Other disappearance totaled 72,000 head during May, 1% below 
2018.

"June 1 cattle on feed data appears to be neutral to slightly 
bearish following slightly higher overall numbers of cattle in 
feedlots during the month of May," said DTN Analyst Rick Kment. 
"Cattle on feed levels increased 2% from a year ago, 
fractionally above expected levels, but well within analysts' 
ranges. Cattle placed in feedlots during May is 97% of a year 
ago, but nearly 4 percentage points above pre-report estimates. 
This is expected to put slight pressure on the cattle complex 
Monday.
 
"Given the already weak market structure of the cattle futures 
complex, these numbers are not expected to be a significant 
factor, but will add another layer of market concern to the 
entire complex."

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DTN subscribers can view the full Cattle on Feed report in the 
Livestock Archives folder under the Markets menu. The report is 
also available at https://www.nass.usda.gov/.