World Perspectives
livestock

Cattle on Feed; Hogs and Pigs

USDA released the monthly Cattle on Feed and quarterly Hogs and Pigs reports today after the markets closed, a day early given the coming holiday schedule. The total inventory of cattle on feed as of 1 December was 11.7 million head or 102 percent of one year ago. This is now the 23rd consecutive month that inventory was larger than the year before. Placements in November at 2 million head, however, were only 95 percent of November 2017. Marketings were 1.87 million head, 101 percent of last year and the largest volume on record for the month of November. The report was in line with pre-report estimates for the most part. Inventory and marketings were spot on with expectations, while the guesses for placements averaged 93 percent of las...

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