NASHVILLE, TENN. (RFD-TV) — Cattle and calves on feed for the slaughter market in the United States totaled 11.5 million head as of March 1, 2026, for feedlots with a capacity of 1,000 head or more, according to the U.S. Department of Agriculture (USDA) Cattle-on-Feed Report for March (PDF Version). The inventory was slightly below the same time last year, signaling a modest tightening in overall supply.
Feedlot inventories held mostly steady in March, but sharply lower marketings signal tighter near-term cattle supplies and continued support for higher prices.
USDA reports 11.55 million head of cattle on feed as of March 1, essentially unchanged from a year ago. February placements totaled 1.61 million head, up 4 percent, with most cattle entering feedlots in the 700-899 pound range. That suggests continued feeder availability as we move into finishing systems.
Operationally, marketings dropped to 1.52 million head, down 7 percent from last year and the second lowest February level since 1996. Slower movement out of feedlots is keeping more cattle on feed longer, contributing to heavier weights and delayed beef production timing. Other disappearances also declined, indicating relatively stable herd conditions.
Regionally, major feeding states including Texas, Nebraska, and Kansas remain near year-ago levels, with only minor shifts in inventory distribution across the Plains.
Looking ahead, tighter marketings and steady placements point to constrained beef supplies in the near term, reinforcing strong cattle prices while packer margins remain under pressure.
Analyst Brian Hoops with Midwest Market Solutions warns demand for beef is beginning to soften, even as imports rise to fill supply gaps.
“Demand is starting to slow,” Hoops explains. “One of the things, USDA [noted] in their numbers earlier last week, a lot of cattle being imported in, beef being imported into the United States, well above what we’ve seen, on an export basis. A lot of that’s coming out of Argentina and Brazil. Some of it’s also coming from Mexico, but we’re importing a lot of beef to make up for that shortfall in our U.S. supplies. And, along the lines here, demand is starting to weaken in a lot of areas.”
Hoops said that grilling season is just around the corner, which means some demand is likely to return with seasonal flows.
Dr. David Anderson with the Texas A&M AgriLife Extension Service joined us on Monday’s Market Day Report to break down the latest data and market implications.
In his interview with RFD-TV, Anderson discussed whether the report aligned with industry expectations and what factors are contributing to the current numbers. He also addressed any market impacts tied to the latest data.
Anderson also weighed in on the ongoing recovery from Nebraska wildfires and whether disruptions in a major cattle-producing state could create ripple effects for the broader market. Finally, he outlined what he is watching moving forward as conditions continue to evolve across the cattle sector.
