Cattle backlog may not be as large as feared

The number of market-ready cattle backlogged in feedyards may not be as large as previous estimates. While any tally of cattle currently waiting on available shackle space is – at best – an estimate, an analysis of 2020 Cattle on Feed and slaughter data from USDA suggests industry estimates of 1 million cattle backlogged may be overstated by as much as 50%. “After a closer analysis of the flow of cattle through feedlots from Cattle on Feed reports, steer and heifer slaughter, and packing plant capacity utilization, I believe the 1 million head backlog figure is too large,” says Sterling Marketing president John Nalivka, Vale, Ore. “Instead, the backlog in feedlots from the April slowdown is probably closer to 400,000 to 550,000 head.” Read more at Drovers…