LUBBOCK, Texas (RFD-TV) — U.S. feedlots are expected to show slightly lighter October and November cattle inventories as analysts anticipate modest declines in placements and marketings heading into winter. The latest pre-report trade estimates suggest on-feed totals remain below year-ago levels, signaling tighter feeder supplies that could influence pricing and marketing strategies through early 2026.
Analysts surveyed ahead of the USDA’s delayed Cattle on Feed report project November 1 on-feed inventories around 97.8% of last year, with October placements near 92.1% and marketings near 92.4%. Estimates for October 1 similarly point to softer activity, including placements at 91.2% and marketings at 95.9%, reflecting disruptions from the recent government shutdown that delayed reporting.
For cattle producers, shrinking placements may tighten fed-cattle supplies later in 2026, while steady marketings indicate continued movement despite cost pressures. Feedlots may face firmer feeder prices if numbers remain below normal levels. Lower cash and future prices may also signal that the market is ready for expansion through heifer retention and herd rebuilding.
Farm-Level Takeaway: Early estimates point to slightly tighter cattle supplies, reinforcing the need to monitor prices and timing for winter marketing.
Tony St. James, RFD-TV Markets Specialist
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