Cattle Placements Hit Record September Low

The number of cattle in U.S. feedlots edged lower from a year ago, while placements fell to a record September low, according to the latest USDA Cattle on Feed Report. Cattle on feed totaled 11.37 million head on October first, down slightly from a year earlier but up from September. The total included 7.07 million steers, up marginally year over year, and 4.3 million heifers and calves, down one percent. September placements plunged 12 percent from last year to 1.78 million head, the lowest September total since USDA began tracking the data in 1996. Marketings also declined, falling seven percent year over year to 1.52 million head. That was the lowest September total in the series. Meanwhile, USDA’s Cold Storage report showed total frozen red meat supplies rose three percent from a year earlier. Beef stocks fell one percent, while pork supplies increased nine percent. Frozen pork belly inventories were up seven percent annually.