The latest Cattle on Feed report showed feedlot inventories on Nov. 1 were 11.99 million head, equal to one year ago. Heifer retention still affecting herd rebuilding.
Total beef production is down a scant 0.7 percent so far this year and may end the year equal to year ago levels. Despite this, wholesale and retail beef prices are higher thus far in 2024.
The feedlot industry continues to find ways to hold inventory levels despite an ever-smaller feeder cattle supply and carcass weights continue to increase.
