Feed grain balance sheet adjusted for smaller export pace

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The U.S. feed grain supply for 2012/13 remained unchanged from last month’s projection at 318.3 million metric tons. Supplies are projected 11 percent below the 2011/12 marketing year level of 358.5 million tons. Feed grain use is lowered slightly this month. At the projected 299.4 million tons, feed grain use is 9 percent below 2011/12 and the lowest since the 2004/05 marketing year. Carryout is projected at 18.9 million tons, 32 percent below 2011/12 and the lowest since 1995/96. Usage is projected to exceed supply as lower corn production more than offsets higher production for sorghum, barley, and oats.

Feed and residual use for the four feed grains plus wheat on a September-August marketing year basis is virtually unchanged this month at 126.5 million tons. Reduced sorghum feed use is offset by increased prospects for wheat feed and residual during the March-May quarter. Grain-consuming animal units (GCAUs) are projected at 91.7 million units this month, up slightly from last month due to increases in forecast beef, pork, broiler, and turkey production. Feed and residual per animal unit in 2012/13 is unchanged this month at 1.38 tons per GCAU, compared with 1.41 tons in 2011/12.

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