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USDA's May Cattle on Feed report showed the first increase in cattle on feed in 18 months, with placements up 6% and marketings down about 10% from a year earlier. Drought across much of the US beef herd is pushing producers to place cattle on feed.
Analysts called the report slightly bearish.
More cattle placed in feedlots and fewer marketings add near-term feeder supply, which pressures feeder cattle prices while the herd remains historically small.
feedlotmagazine.comCargillMay 28, 2026After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
After 78 past neutral report events, Live Cattle moved a median +0.2% over 5 sessions (54% higher; middle half -1.0% to +1.0%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
