NASHVILLE, TENN. (RFD NEWS) — 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.
Placements during February reached 1.61 million head, up 4 percent from 2025, with net placements at 1.56 million head. The largest share of placements fell in the 700- to 799-pound category at 445,000 head, followed by 800- to 899-pound cattle at 396,000 head. Lighter-weight placements under 600 pounds totaled 305,000 head, while just 55,000 head were placed at weights of 1,000 pounds or more.
Marketings of fed cattle came in at 1.52 million head for the month, down 7 percent year over year and marking the second-lowest February total since the series began in 1996. Other disappearance totaled 50,000 head, a 17 percent decline from last year, reflecting reduced movement outside of traditional marketing channels.
Based on private estimates, traders believed the actual numbers for March would be ‘friendly.’
“So, there’s a lot of variation on the estimates in the placements number, and that’s where probably a surprise could come from,” explains Brian Hoops, president of Midwest Market Solutions. “We do expect to see on-feed numbers tighter than a year ago for at least a couple more months — and then maybe we’ll start to see a little bit of expansion and a little bit bigger size — but we’ll see what that report says. I think it’s going to be somewhat friendly.”
A Reuters survey shows on-feed estimates at 99.3 percent at the start of the month, up from 98.2 percent the previous month. February placements are estimated at 100.2 percent, compared to last month’s 92.2 percent. And in marketing, they’re also projected to rise, with industry estimates at 92.6 percent. Last month’s report showed marketing at 87 percent.
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