# Growing on-feed inventory, lower placements and no sign of heifer retention

> USDA's July Cattle on Feed report showed July 1 on-feed inventory at about 11.2 million head, roughly 0.5% above 2023. June placements fell nearly 7% year over year, and first-half 2024 placements were down 3.2%.

- Date: 2024-08-01 · published 2024-08-01T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/29412-growing-on-feed-inventory-lower-placements-and-no-sign-of-heifer-retention
- Commodities: [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md)

## Why it matters

Lower feeder cattle placements point to tighter feeder supplies ahead, supporting feeder cattle prices and reinforcing the case for firm cattle values.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| FCATTLE | 2024-08-05 | 5 | -5.5% | -3.2 | The July Cattle on Feed report showed on-feed inventory above last year, which could weigh on sentiment even though placements were lower, supporting a pullback from record-high prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| FCATTLE | 2022-05-25 | [Record Number of Cattle on Feed and Record Low Inventory Outside of Feedlots](https://feedsoft.ai/events/41541-record-number-of-cattle-on-feed-and-record-low-inventory-outside-of-feedlots.md) | +9.9% | +13.2% |
| FCATTLE | 2024-02-14 | [Replacement Heifer and Cattle on Feed Trends Affecting Markets - AG INFORMATION NETWORK OF THE WEST](https://feedsoft.ai/events/31815-replacement-heifer-and-cattle-on-feed-trends-affecting-markets-ag-information.md) | +1.4% | +0.9% |
| FCATTLE | 2025-01-28 | [Ongoing shortfall of replacement cattle spurs feedlots to hold on to their inventory \| The National Provisioner](https://feedsoft.ai/events/26638-ongoing-shortfall-of-replacement-cattle-spurs-feedlots-to-hold-on-to-their.md) | -3.3% | -2.0% |
| FCATTLE | 2023-01-13 | [Heifer Retention in 2023 Will Put More Pressure on Feeder Markets](https://feedsoft.ai/events/37914-heifer-retention-in-2023-will-put-more-pressure-on-feeder-markets.md) | -2.3% | +2.3% |
| FCATTLE | 2018-05-25 | [U.S. livestock: Feeder cattle extend gains on drop in placements - Grainews](https://feedsoft.ai/events/11033-u-s-livestock-feeder-cattle-extend-gains-on-drop-in-placements-grainews.md) | +7.3% | +9.4% |
| LCATTLE | 2024-02-14 | [Replacement Heifer and Cattle on Feed Trends Affecting Markets - AG INFORMATION NETWORK OF THE WEST](https://feedsoft.ai/events/31815-replacement-heifer-and-cattle-on-feed-trends-affecting-markets-ag-information.md) | -0.0% | +2.3% |
| LCATTLE | 2025-01-28 | [Ongoing shortfall of replacement cattle spurs feedlots to hold on to their inventory \| The National Provisioner](https://feedsoft.ai/events/26638-ongoing-shortfall-of-replacement-cattle-spurs-feedlots-to-hold-on-to-their.md) | -0.6% | -3.9% |
| LCATTLE | 2023-01-13 | [Heifer Retention in 2023 Will Put More Pressure on Feeder Markets](https://feedsoft.ai/events/37914-heifer-retention-in-2023-will-put-more-pressure-on-feeder-markets.md) | -0.8% | +1.2% |

## Sources

- beefmagazine.com: https://www.beefmagazine.com/market-news/growing-on-feed-inventory-lower-placements-and-no-sign-of-heifer-retention

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.