Cattle On Feed Numbers Show Little Change

The USDA's most recent Cattle of Feed report doesn't really have a big surprise from a market impact, according to USDA Livestock Analyst Shayle Shagum.  October 1st feedlot inventory 11.3 million head, 1% lower than one year ago.  This came after September placements of just under 2.1 million head, increased 2%.

Shagum noted the the October 1st feedlot inventory had 4.4 million heifer and heifer calves.

"About 2% above a year ago and the highest number of heifer on feed on October 1st since 2001"]

And when looking at a percentage of the entire feedlot inventory, "The number of heifer calves was about 39% which is also a very high number."

So are we in a herd contraction phase or not?  Shagum says the national herd is very much at a tipping point, adding it will depend on the livestock industry's ability to forage over the winter.

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