Cattle on Feed Preview                 04/18 14:05
                        USDA Actual  Average Guess      Range
On Feed April 1            102.0%        101.8%     100.4-102.2%
Placed in March            105.0%        103.8%      97.9-106.0%
Marketed in March           97.0%         96.8%       95.7-98.4%

OMAHA (DTN) -- Cattle and calves on feed for the slaughter 
market in the United States for feedlots with capacity of 1,000 
or more head totaled 12.0 million head on April 1, 2019. 

The inventory was 2% above April 1, 2018. This is the highest 
April 1 inventory since the series began in 1996. The inventory 
included 7.45 million steers and steer calves, down 1% from the 
previous year. This group accounted for 62% of the total 
inventory. Heifers and heifer calves accounted for 4.51 million 
head, up 8% from 2018.

Placements in feedlots during March totaled 2.01 million head, 
5% above 2018. Net placements were 1.95 million head. During 
March, placements of cattle and calves weighing less than 600 
pounds were 325,000 head, 600-699 pounds were 300,000 head, 700-
799 pounds were 595,000 head, 800-899 pounds were 539,000 head, 
900-999 pounds were 185,000 head, and 1,000 pounds and greater 
were 70,000 head.

Marketings of fed cattle during March totaled 1.78 million head, 
3% below 2018.

Other disappearance totaled 69,000 head during March, 3% above 
2018.

"The increase in placements as well as the combined growth in 
overall fed cattle numbers is expected to negatively affect 
trade values early Monday once futures trade opens following the 
long holiday weekend," said DTN Analyst Rick Kment. "Cattle 
marketed in March were slightly higher than early estimates, but 
still fell 3% from year-ago levels based on adverse weather 
conditions, limiting gain in many areas of the country. The 
lower marketed level is not expected to offset the pressure of 
growing cattle supplies."