Cattle on feed numbers are up 9% on the year
USDA’s latest cattle on feed numbers show placements are up 9 percent on the year.
Cattle and calves on feed totaled 12 million head, which is up 1 percent and also the highest March inventory since the series began in 1996. Placements totaled 1.85 million head and marketing of fed cattle totaled 1.83 million, 5 percent above 2021.
Most of the cattle placed weighed less than 800 lbs, which could imply that ranchers are expecting lower feed costs in the coming months, giving them more time to feed out before heading to the market this summer.