February Feedlot Placements Jump Nine Percent

The nation’s feedlots added 1.85 million head of cattle in February, exceeding analyst expectations. Friday’s monthly USDA Cattle on Feed report indicated a nine-percent jump in placements compared to the previous year, when traders had predicted a 6.5 percent increase. Marketings were also slightly higher than trader expectations at 1.83 million head, up five percent year-over-year, resulting in a one-percent increase for feedlot populations to start March, at 12.16 million head. This is the highest March 1st inventory in the 26 years that USDA has released monthly feedlot inventories.