Cattle inventories in US feedlots with capacities of more than 1,000 head totaled 11.7 million animals as of June 1, up 2% from the same period in 2025, according to USDA-NASS’s monthly Cattle on Feed report. The figure was largely in line with market expectations and suggests fed cattle supplies remain relatively tight despite the year-on-year increase in inventories.
May placements totaled 1.7 million head, down 10% from a year earlier. Net placements reached 1.65 million head, with cattle weighing between 800 and 899 pounds accounting for the largest share at 444,000 head. Marketings totaled 1.55 million head, 12% below May 2025 and the second-lowest volume for the month since the series began in 1996.
The combination of lower placements and reduced marketings reflects the limited availability of cattle in the United States, where the national herd remains near multi-decade lows.
According to DTN analyst ShayLe Stewart, the report carried mixed implications for the market. While the sharp decline in placements could initially be viewed as supportive, the larger feedlot inventory and slower pace of marketings offset much of that effect.
“The report moves from being bullish to, at best, neutral,” Stewart said.
