USDA’s newly released “Cattle on Feed” report showed an inventory of 11.6 million head on feed as of May 1, 2023, a 3% decline from May 1, 2022. This was mostly in line with pre-report analyst estimates.
Placements in feedlots during April totaled 1.75 million head, 4% below 2022. Net placements were 1.70 million head. During April, placements of cattle and calves weighing less than 600 pounds were 360,000 head, 600-699 pounds were 245,000 head, 700-799 pounds were 410,000 head, 800-899 pounds were 458,000 head, 900-999 pounds were 205,000 head, and 1,000 pounds and greater were…
