World Perspectives
livestock

Cattle on Feed

USDA released its monthly Cattle on Feed (COF) report last Friday. The total number of cattle in feedlots with capacity of more than 1,000 as of 1 May was 11.6 million head, 105 percent of last year. This inventory was down slightly from the 1 April total of 11.7 million head. Just to keep a running score, please note the following:

This was the seventh month in a row that the inventory rose 5 percent or more. This was the 17th consecutive month that the inventory has been larger than the year prior. This was the second-largest 1 May inventory on record (as was the 1 April inventory for that month).

The USDA report totals were very much in keeping with the expectations of the trade prior to its release.

The only categories that h...

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