USDA’s latest Cattle on Feed report reveals numbers are slightly higher than one year ago. Cattle and calves on feed in feedlots of 1,000 or more head totaled 11.8 million on February 1. January placements totaled 1.79 million, 7% below January of 2023. The report was in line with analyst expectations.

The lower numbers in January were in line with predictions following the heavy snowfall many areas received in the U.S. Snow can muddy report data while producers assess and manage their pens following a storm. DTN Livestock Analyst ShayLe Stewart says the overall outlook of the market remains strong.

Read more on the latest Cattle on Feed Report here.