World Perspectives
livestock

Cattle on Feed: Huge Placements!

USDA released the monthly Cattle on Feed report today; the total inventory of cattle on feed in feedlots of 1,000 head or more capacity was 11.6 million head. Following is a summary and breakdown of today’s report.

Placements, once again, surprised to the upside, at 106 percent of last year, higher than the largest analyst’s pre-report guess, which was 104.8 percent of last September. Another key telling point looking out to 2024 is that among the larger inventory on feed was a one percent increase in heifers versus last year. That’s a signal that herd liquidation has not hit a reversal point.    Live cattle and feeder cattle contracts were down across the board. These are not normal times, however, and futur...

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