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USDA's April Cattle on Feed report showed inventory just under 11.6 million head, down 0.5% from last year, with March marketings down 7.3%. Drought now affects about 63% of cattle inventory, up sharply from a year earlier.
Tight feedlot supplies and drought limiting herd rebuilding support cattle prices and reduce feed demand from feedlots over time. Lower placements mean less near-term grain and meal consumption.
feedlotmagazine.comCourtesy Livestock Marketing Information Center, Katelyn SteffensApr 27, 2026After 268 past bullish report events, Live Cattle moved a median +0.3% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +1.7% over 20.
After 227 past bullish report events, Feeder Cattle moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.5%), and +1.1% over 20.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
