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The latest USDA Cattle on Feed report pegged the Oct. 1 cattle on feed inventory at 11.45 million head, down 0.9% year over year. This is the first year-over-year decrease in the monthly on-feed inventory since December 2021.
USDA’s Foreign Agricultural Service recently released the latest Livestock and Poultry: World Markets and Trade report. The report provides estimates for production, consumption and trade for beef, pork and chicken for major countries. The article focuses on the Mexican beef and cattle industry.
Both feedlot inventories and cattle slaughter have remained stubbornly high this year due to drought-forced movement of cattle out of the country. Feedlot production, cattle slaughter and beef production are all expected to decrease sharply in 2023.
Year-to-date U.S. cattle imports total 951,910 head, down 6.3% year over year. Total cattle exports thus far in 2022 are 192,415 head, down 36.7% from the record cattle export total last year.
Feeder cattle prices have been quite strong this summer with heavy feeder prices moving higher by more than seasonal amounts and calf prices moving counter-seasonally higher.
On July 22, the USDA National Agricultural Statistics Service (NASS) will release the July Cattle report with national estimates of cattle inventories by category along with the first estimate of the 2022 calf crop.
The first half of 2022 is in the books. The general direction of cattle and beef market forecasts for this year has not changed, but annual forecasts have been modified by the way the first half of the year has played out, with implications for a significantly different second half of the year.
As we move into June, cattle markets are transitioning into summer mode, reflecting seasonality and a myriad of other factors which are currently impacting markets. Market impacts vary across different classes of cattle.
The latest Cattle on Feed report showed a record April feedlot inventory of 12.1 million head, up 1.7% year over year. The quarterly inventory of steers on feed was up 1.8% year over year, while the inventory of heifers on feed was up 1.7% over one year ago.
The recent USDA Foreign Agricultural Service bulletin on Livestock and Poultry: World Markets and Trade provides a current summary of the major beef-consuming and importing countries in the world.
