The March Cattle on Feed report from USDA shows another year-over-year decrease in cattle inventory in feedlots in the United States. USDA livestock analyst Michael McConnell says that the number of placements for the month of February was 18% lower than last year. However, McConnell says February of 2024 was a bit unusual.
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There have been slower marketings due to higher prices and in turn a slower slaughter pace to begin the year. Overall, 11.6 million head of cattle were recorded in feedlots as of March 1st. That total inventory number is a decrease of 2% year-over-year says McConnell.
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That was USDA livestock analyst Michael McConnell.
For the grains, USDA will release the Prospective Plantings report on March 31st and will give the first glimpse into what to expect for acreage numbers this planting season. March 31st will also be the release date for the Quarterly Grain Stocks report.
