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Cattle on Feed Up Slightly in February

(WASHINGTON D.C.) — The latest Cattle on Feed Report from USDA showed slightly higher on feed numbers and placements that were lower, but maybe slightly above expectations.

Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.8 million head on February 1, 2024. The inventory was slightly above February 1, 2023.

Placements in feedlots during January totaled 1.79 million head, 7 percent below 2023. Net placements were 1.71 million head. Marketings of fed cattle during January totaled 1.84 million head, slightly below 2023. Other disappearance totaled 81,000 head during January, 29 percent above 2023.

For the most part, the report can be viewed as in line with expectations for on feed and marketings numbers. The placements number was a bit higher than what many traders had expected but overall supplies do remain tight.

View the full report here: https://downloads.usda.library.cornell.edu/usda-esmis/files/m326m174z/fn108k364/7d27bf40m/cofd0224.pdf

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