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The year kicked off with a cattle inventory estimated to be down 2%, thanks to a 2021 calf crop down 2.3% from the previous year, due largely to the pressures brought on by drought and high input costs for feed, fuel, fertilizer and labor. This Market Intel provides farmers and ranchers with a snapshot of what is happening to the U.S. cattle herd as we head toward the finish line of 2022.
The cattle markets bring a mix optimistic and caution news. Fed cattle prices are at levels not seen since mid-2015. The substantial heifer composition of FI fed slaughter and the reasonably aggressive beef cow slaughter and liquidation clearly communicates the tightening future beef supplies.
The latest Cattle on Feed report showed a record April feedlot inventory of 12.1 million head, up 1.7% year over year. The quarterly inventory of steers on feed was up 1.8% year over year, while the inventory of heifers on feed was up 1.7% over one year ago.
The December Cattle on Feed report showed November placements 103.6% of last year and marketings 105.3% of one year ago. November had one more business day than 2021.
The September USDA National Agricultural Statistics Service (NASS) Cattle on Feed report pegged Sept. 1 feedlot inventories at 11.234 million head, 98.6% of last year.
The USDA National Agricultural Statistics Service (NASS) released the midyear Cattle report on July 23, which provided a snapshot of the U.S. cattle inventory, as well as a glimpse into cow-calf producers’ intentions for retaining heifers.
The latest USDA Cattle on Feed report pegs May 1 feedlot inventories at 11.725 million head, 104.7% of last year. A more useful comparison is to 2019 levels with the 2021 May 1 total down 0.7% from May 2019.
