According to SENASA data, cattle on feed totaled 2.17 million head as of July 1, up 120,000 head (6%) from a year earlier and the highest number since records began in 2008.
The increase was not driven by stronger placements, which fell 22% year-on-year, but by longer feeding periods. This is reflected in the composition of feedlot inventories: while the number of male and female calves declined by 51% and 52%, respectively, inventories of young steers and heifers increased 65%, steers rose 48%, and cows increased 19%.
Together with lower slaughter numbers, these figures suggest the beginning of a herd rebuilding phase after several years of liquidation.
