World Perspectives
livestock

Cattle on Feed: Third Consecutive Monthly Record

USDA released its monthly Cattle on Feed report today; the inventory of cattle and calves on feed was 12.1 million, 2 percent above April 2021, and the highest April inventory on record. In four months of 2022, the cattle on feed inventory has set a monthly record three times – February, March and April. January 2022 saw the second largest January inventory on record.  

Only marketings came in as expected per the pre-report estimates. The average daily marketings are 86,957 based on 23 days in March. Marketings as a percent of inventory on feed are current at 16.5 percent. As noted yesterday, slaughter has been strong, which is a typical seasonal pattern. However, inventories typically decline as placements slow down whi...

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