The inventory of cattle on feed (COF) set a new record for the month of August at 11.093 million head (the monthly data goes back to 1996), 489,000 more than in August 2017. However, the total was down 194,000 head from the 1 July inventory. The inventory report was exactly in line with pre-report expectations, although placements were higher than anticipated.
The distribution of placements by weight class is detailed below; the higher number versus a year ago in the lightest and heaviest categories occurred in bookend fashion, but it is the gain in feedlot inventory that will have the biggest impact from lighter cattle.
Overall, the report was bearish. This trend of more cattle marketed and a greater number in the pipeline sustaining...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
