USDA says the number of cattle on feed in large feedlots at the start of May was down 3.4% compared to May 2012. The pre-release trade forecast was for the on-feed number to be down 3.7%. This is the ninth consecutive month the number of cattle on feed has been below the year-ago level. The May on-feed number is the lowest for any May since 2010.

USDA said April placements of cattle into large feed yards (over 1,000 head capacity) were 15.1% higher than in April 2012. The big increase was due to very low placements in April 2012. The 1.75 million head placed was the most for any April since 2011. The average of pre-release trade forecasts was for April placements to be up 12.1%.

USDA said marketings of fed cattle from large feed yards during April totaled 1.855 million head, up 2.2% compared to April 2012, and the most for any April since 2010. The trade predicted April marketings would be up 2.9%. There was one more slaughter day this April than last.

The number of cattle placed on feed weighing less than 600 pounds was up 5.6% from the previous April. Placements of feeders weighing 600 to 700 pounds were up 8.0%; placements weighing 700 to 800 pounds were up 19.7%, and placements weighing more than 800 pounds were up 21.3% compared to a year earlier. The calculated average weight of cattle placed on feed during April was up 1.0% from April 2012.

The average retail price for choice beef during April was $5.264 per pound. That was down 3.6 cents from March, but up 27.8 cents from April 2012. Slaughter steer prices averaged $127.50/cwt in April, up $1 from March, and up $6.30 from April 2012.