The June USDA Cattle on Feed Report was neutral to slightly friendly but continues to point to a tight supply picture for the cattle market.
The number of cattle and calves on feed for the slaughter market for feedlots with capacity of 1,000 or more head totaled 11.4 million head on June 1, 2025.
That put inventory 1% below the same date a year ago and in line with pre-report expectations.
Several states continue to see inventory well below 2024 with Texas at 93% and Colorado at 96%, while Nebraska stood at 103%, Oklahoma at 102%, Kansas at 101% and Nebraska at 103%.
This has been a trend as cattle have been moving North to take advantage of the price premium to the South.
Placements in feedlots during May totaled 1.89 million head, 8% below 2024. A friendly number as it was below the average trade estimate of 94.2%.
On a state-by-state basis, placements fell 85,000 head in Texas (83% of a year ago), 50,000 head in Colorado (71%), 15,000 head in Kansas (97%) and 10,000 head in “other states.” Nebraska placements were equal to May 2024.
The lower placements in Central and Southern Plains feedlot states reflects USDA’s closure of the border to Mexican feeder cattle to prevent the spread of New World Screwworm (NWS).
Net placements were 1.82 million head. During May, placements of cattle and calves weighing less than 600 pounds were 335,000 head, 600-699 pounds were 275,000 head, 700-799 pounds were 450,000 head, 800-899 pounds were 516,000 head, 900-999 pounds were 230,000 head, and 1,000 pounds and greater were 80,000 head.
Marketings of fed cattle during May totaled 1.76 million head, 10% below 2024, which was also close to pre-report expectations.
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