COVID-19 shifts feeder cattle placement pattern

Almost all July 1 inventory estimates in USDA’s biannual Cattle Report were within one percentage point of July 1, 2019, levels. Several factors complicate interpreting the numbers. The list includes large slaughter disruptions in April and May, the prevailing backlog of fed cattle, changes in timing and weight of feedlot placements, drought in some areas, and a less stable economic outlook. The July 1 beef cow herd is generally larger than the Jan. 1 inventory. Historically, this year’s 2.3% rise would suggest expansion. Beef cow slaughter less so. Through 2020’s first 30 weeks beef cow slaughter averaged 4% ahead of 2019. Before slaughter plant disruptions, weekly harvest was running up 10%, well ahead of 2019. Beef cow slaughter plunged for the seven weeks from April to mid-May. Read more at BEEF Magazine…