September Feeder Placements Jump Six Percent

Cattle on feed figures from USDA continue to exceed trader estimates. Friday’s monthly report showed placements during the month of September were up six percent from the previous year at two-point-two-three million head. As a result, inventory on hand as of October first was four percent higher at 11-point-seven million head. The net increase was as a result of the feeder steer population increasing six percent to seven-point-three million. Marketings also increased six percent, at one-point-eight-five million head.