Cattle on Feed report show shift in numbers
USDA’s latest Cattle on Feed report shows a shift in numbers.
There were more cattle and calves in feedlots at the start of June than any other start “this month” on record.
The “On Feed Total” was up one percent on the year due to drought and feed concerns. “Placements into Feedlots” were two percent lower, indicating tighter market-ready supplies this fall.
One ag economist says he expects that to extend into next year and likely a push for higher prices.