US cattle feedlots see slight increase

Jul 25, 2024

USDA reports inventory rise, market adjustments

By Farms.com

The United States Department of Agriculture's (USDA) National Agricultural Statistics Service (NASS) released its latest cattle on feed report, indicating a modest increase in the cattle industry.

As of July 1, 2024, feedlots with a capacity of 1,000 or more head housed 11.3 million cattle and calves on feed for slaughter, reflecting a 1% rise from the previous year.

This increase is divided between steers and heifers. Steers and steer calves saw a 1% rise, reaching 6.82 million head and making up 60% of the total inventory. Heifers and heifer calves also experienced a slight increase, totaling 4.48 million head.

The report also highlights adjustments within the cattle industry. Placements in feedlots during June 2024 were 7% lower than June 2023, totaling 1.56 million head.

The marketing of fed cattle during June followed a similar trend, decreasing by 9% compared to the previous year and marking the second-lowest June marketing figure since record-keeping began.

These trends suggest ongoing adjustments within the cattle industry. While the overall inventory shows a small increase, placements and marketings indicate a cautious approach from producers.

The USDA data provides valuable insights for stakeholders in the cattle market, allowing them to make informed decisions.

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