The January Cattle-on-Feed Report from the USDA confirmed the tightening trend in US cattle supplies, with slightly stronger-than-expected inventories and placements, and marketings exceeding pre-report forecasts. The figures reinforce concerns over limited feeder availability as the new year gets underway.
Cattle on feed in feedlots with a capacity of 1,000 head or more totaled 11.5 million head on January 1. That equates to 97% of the previous year’s level, slightly above the trade estimate of 96.8%. The total included 7.02 million steers and steer calves and 4.44 million heifers and heifer calves, both down 3% year over year. Steers accounted for 61% of the total.
December placements reached 1.55 million head, or 95% of the 2024 figure. While still down year over year, that was above the average trade guess of 93.5%, with volumes spread across weight categories and led by cattle under 800 pounds.
Marketings totaled 1.77 million head for the month, or 102% of the previous year, also exceeding expectations and reflecting solid pull-through from feedlots amid limited supply dynamics.
