The U.S. Department of Agriculture (USDA) released their March Cattle on Feed Report, which shows the number of cattle and calves on feed for the slaughter market in the U.S. on March 1st for feedlots with capacity of 1,000 or more head totaled 12.2 million head. The inventory was 1 percent above March 1, 2021, making it the highest March 1 inventory since the series began in 1996.
According to a story from Gary Crawford, the USDA report shows some very large inventory and placement numbers.
The report shows placements in feedlots during February totaled 1.85 million head, 9 percent above 2021. Net placements were 1.79 million head. During February, placements of cattle and calves weighing less than 600 pounds were 360,000 head, 600-699 pounds were 325,000 head, 700-799 pounds were 505,000 head, 800-899 pounds were 468,000 head, 900-999 pounds were 135,000 head, and 1,000 pounds and greater were 55,000 head.
Marketing’s of fed cattle during February totaled 1.83 million head, 5 percent above 2021.
And USDA livestock analyst Shayle Shagam says good demand for feeders is keeping prices strong.