The U.S. Department of Agriculture has released their May Cattle on Feed Report. It shows the number on feed for the slaughter market in the U.S. for feedlots with capacity of 1,000 or more head was 12.0 million head on May 1, 2022. That is 2 percent above May 1, 2021 and is the highest May 1 inventory since the series began in 1996.
But according to a report from Gary Crawford, the report confirms the idea that beef production will continue to decline from now through 2023.
The new USDA report shows placements in feedlots during April were 1.81 million head, 1 percent below 2021. Net placements were 1.76 million head. During April, placements of cattle and calves weighing less than 600 pounds were 355,000 head, 600-699 pounds were 270,000 head, 700-799 pounds were 415,000 head, 800-899 pounds were 489,000 head, 900-999 pounds were 210,000 head, and 1,000 pounds and greater were 70,000 head.
Marketing’s of fed cattle during April totaled 1.89 million head, 2 percent below 2021.