![]() ![]() 20, ahead of the semi-annual inventory report mentioned earlier.īeef production for November 2022 was 2.42 million pounds, 2% higher than the same time in 2021. The next COF report will be released on Jan. This was mostly due to farmers facing higher feed costs, and extreme drought conditions, especially in the West and Southern Plains. This is an indicator that farmers are culling cattle and reducing herd size. Marketings of fed cattle outpaced placements of cattle on feed for much of 2022. This is a record high for November marketings since the survey began in 1996 and comes after a record low for cattle placed into feedlots in October. Marketings of fed cattle in November 2022 totaled 1.89 million head, 1% above the same time last year. Placements of cattle into feedlots in November were 1.93 million head, down 2% from the same time in 2021. feedlots with capacity of 1,000 head or more were 11.7 million on Dec. The most recent Cattle on Feed (COF) report estimates that all cattle and calves on feed in U.S. 1 cattle inventory declined by 3% or more was in 1987. If the inventory comes in near 5% below 2021, the inventory would be the lowest since we approached 82.08 million in 1951. 1, 2021, the inventory of all cattle and calves in the Unites States would be the lowest since 2013. If the report estimates are 3.9% or more below Jan. Many industry experts are forecasting the inventory to be 4-5% below 2022, which was 2% less than the Jan. This inventory of cattle and calves in the United States will set the tone for 2023. This Market Intel is a deep dive into the 2023 cattle outlook, and what producers can do to position themselves for what lies ahead.Īll eyes will be on USDA’s semi-annual cattle inventory report, set for release on Jan. From high feed costs to the third consecutive year of drought, there was no shortage of complex obstacles, many with effects that will carry through well beyond 2023. ![]()
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