The number of cattle and caves in feedlots continue trending lower. USDA’s latest cattle on feed report as of February 1st, 10.7 million head of cattle were in feedlots. That inventory number compares the 10.9 million in the January report and it slightly lower than this time last year.
Placement in feedlots for the month came in 1% lower than a year ago totally 1.78 million had. However this number is up from 1.53 million had from the previous month. As for marketing fed cattle that number is down 2% from last year.
At 1.59 million had of fed cattle shipped out to the slaughter markets last month that would be the lowest number for the month of January since USDA started that series back in 1996.