An extra day in February this year contributed to higher year to year feedlot placements. Derrell Peel, Extension livestock marketing specialist at Oklahoma State University also points out placements last year were 5% less than the 5-year average.
Bearish futures markets following the monthly Cattle on Feed report helped pressure cash cattle prices this week. Calves traded mostly steady to $5 per cwt lower, according to the Agricultural Marketing Service (AMS).
Grazing demand continued to boost calf and feeder prices last week: firm to $5 per cwt higher for calves and stocker-weight cattle and $2-$5 higher for yearlings, according to the Agricultural Marketing Service.
U.S. beef exports were 3% higher in volume this January compared to a year earlier. Although plenty of challenges remain, the U.S. Meat Export Federation continues to see opportunity to grow the international market.
Value of gain and improving feedlot margins are among the indicators suggesting markets are returning to more normal conditions, says Derrell Peel, Extension livestock marketing specialist at Oklahoma State University.