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USDA Cattle on Feed Report 10/23 14:32
Oct. 1 Cattle on Feed Down Slightly From Year Ago, Placements Down 12%
By DTN Staff
USDA Actual Average Estimate* Range
On Feed Oct. 1 100% 100.3% 98.8-100.8%
Placed in September 88% 91.7% 88.1-95.1%
Marketed in September 93% 92.8% 92.5-93.3%
* Estimates compiled by Dow Jones.
This article was originally published at 2:07 p.m. CDT on Friday, Oct. 23.
It was last updated with additional information at 2:32 p.m. CDT on
Friday, Oct. 23.
**
OMAHA (DTN) -- Cattle and calves on feed for the slaughter market in the
United States for feedlots with capacity of 1,000 or more head totaled
11.4 million head on Oct. 1, 2026. The inventory was slightly below Oct.
1, 2025, USDA NASS reported on Friday.
The inventory included 7.07 million steers and steer calves, up slightly
from the previous year. This group accounted for 62% of the total
inventory. Heifers and heifer calves accounted for 4.30 million head, down
1% from 2025.
Placements in feedlots during September totaled 1.78 million head, 12%
below 2025. Net placements were 1.73 million head. Placements were the
lowest for September since the series began in 1996. During September,
placements of cattle and calves weighing less than 600 pounds were 360,000
head, 600-699 pounds were 260,000 head, 700-799 pounds were 385,000 head,
800-899 pounds were 422,000 head, 900-999 pounds were 255,000 head, and
1,000 pounds and greater were 95,000 head.
Marketings of fed cattle during September totaled 1.52 million head, 7%
below 2025. Marketings were the lowest for September since the series
began in 1996.
Other disappearance totaled 49,000 head during September, 4% below 2025.
DTN ANALYSIS
"Well, if today's Cattle on Feed report isn't bullish, I truly don't know
what is," DTN Livestock Analyst ShayLe Stewart said following the report's
release. "With all three of the categories being lighter than a year ago,
there's no other way to deem the report other than to call it extremely
bullish, and it's likely that on Monday morning when the market opens,
prices will indeed be higher.
"The biggest item, though, again this month is the placement data. With
the total number of calves/feeders being placed in September totaling 1.78
million head, that's down a whopping 12% from a year ago, and it's below
the lowest estimate of the pre-report estimates. But given that feeder
cattle prices were so strong early this spring/summer, a large majority of
producers elected to capitalize on the market then, and others were forced
to market their calves early due to drought circumstances.
"Today's sharply lower placement figure does align with what the market
has seen play out in recent months and will likely be absorbed as a
bullish report on Monday morning."
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DTN subscribers can view the full USDA Cattle on Feed report in the
Livestock Archives folder under the Markets menu. The report is also
available at https://www.nass.usda.gov/.
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