USDA released its monthly Cattle on Feed report on Friday; the inventory of cattle and calves on feed was 11.4 million, or 99 percent of October 2021.
This is the first month of 2022 where on-feed inventories are lower than year ago levels, though the inventory was still historically strong.
Total inventory included 6.9 million steers and steer calves, which was 98 percent of last year, and 4.55 million heifers and heifer calves, which was 101 percent of last year. Heifers and heifer calves were 40 percent of the total cattle on feed, which is the largest volume for October since 2001. The increase was in the southwest, with Texas (up 140,000) and Arizona (up 5,000, an increase of 100 percent) driving the increase.&n...
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...
