The March Cattle on Feed report brings the feedlot data up to date and back on schedule following the federal government shutdown. February feedlot placements were 102.2 percent of last year.

The Jan. 1, 2019, inventory of all cattle and calves in the U.S. grew to 94.76 million, head, up 0.5 percent from one year ago. This puts the number of cattle in the country just slightly higher than 2009 levels after dropping to a low of 88.53 million head in 2014, with an increase of 6.23 million head in the last five years.

The latest USDA Cattle on Feed report issued on Feb. 22 was delayed a month because of the federal government shutdown. The report showed December placements at 98 percent of one year earlier and marketings at 99 percent of last year, leading to a Jan. 1 on-feed total of 11.69 million head, 101.8 percent of the prior year.

Extreme cold temperatures and heavy snow is gripping much of the eastern half of the country this week. From eastern Montana, across the Great Lakes and the Midwest to the East Coast and the Southeast, wind, snow and winter mix will likely impact cattle, travel and a host of markets.

Evolving market dynamics make it easy to underestimate how the impacts and costs of trade issues will continue to grow in 2019. Many agricultural markets have been impacted thus far, and the damage will grow and spread unless resolutions are forthcoming promptly. Trade issues will have accumulating impacts in a variety of ways as more time passes.

As we wrap up 2018, it’s worth a moment to pause and consider the amazing day-to-day performance and accomplishments of the U.S. cattle and beef industry.

The latest meat trade data shows that meat exports are continuing to help offset record meat production in 2018. Each of the major meats – beef, pork and poultry – is projected to reach record levels in 2018 and will combine to push total U.S meat production to a record level of 102.3 billion pounds, up 2.6 percent year over year.

Steer slaughter continues to run below year-ago levels so far this year. This is despite the fact that the quarterly feedlot inventories have shown more steers on feed in 2018 compared to last year.

The latest Cattle on Feed report showed a Sept. 1 feedlot inventory of 11.125 million head, a record for the month since the current data series began in 1996. The Sept. 1 inventory was 105.9 percent of one year ago.

Total beef exports were up 16.8 percent year over year in July contributing to a year-to-date increase of 15 percent for the first seven months of the year. Japan, the largest beef export market, had a monthly increase of 12.9 percent and is up 7.5 percent for the year to date.