For the 18th month straight the Cattle on Feed report has shown monthly year-over-year inventory increase with an additional 457,000 head of cattle in feedlots since last June. The 4% increase helped the latest June 1 inventory reach the highest levels recorded since the USDA began reporting the series in 1996.
There were 11,553,000 cattle reported in feedlots at the start of June which was a 5,000 head drop since May.
Arizona and California led the pack for percentage increases in placements from last year by state with 21% and 19% more cattle respectively. Colorado and Oklahoma saw the biggest drops in percentage of cattle on feed inventory with 9% and 5% fewer cattle respectively.
Overall the top five cattle on feed inventories were as follows:
- Texas 2,730,000 head
- Nebraska 2,530,000 head
- Kansas 2,320,000 head
- Colorado 950,000 head
- Iowa 720,000 head
Placements for May were relatively stagnant year-over-year with only a 5,000 head increase from May 2017. For May 2018, there were 2,124,000 cattle placed.
Placements were led by the following weight classes of cattle:
- 800-899 lb. at 524,000 head
- 700-799 lb. at 480,000 head
- Less than 600 lb. at 445,000 head
- 600-699 lb. at 340,000 head
- 900-999 lb. at 235,000 head
- 1,000 lb. or greater at 100,000 head
Fed cattle marketings rose by 5% with 2,056,000 cattle going to packers this May.