Despite the cattle inventory plummeting to the lowest level in 73 years, the number of cattle on feed remains surprisingly strong. Cattle and calves on feed for the slaughter market in the U.S. for feedlots with a capacity of 1,000 or more head totaled 11.6 million on October 1, 2024. That number is slightly below the inventory on October 1, 2023. The inventory included 7.00 million steers and steer calves, up one percent from the previous year. Heifers and heifer calves accounted for 4.6 million head, down one percent from 2023. Feedlot placements during September totaled 2.16 million head, two percent below last year. Net placements were 2.1 million head. Fed cattle marketings in September reached 1.7 million head, two percent below 2023. The average all-fresh retail price for beef hit record highs in six of the last seven months, while the cash price paid to farmers fell from July to September.
U.S. cattle on feed down slightly
