Record Number of Cattle on Feed and Record Low Inventory Outside of Feedlots

After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.

• May 27, 2021USDA reports second largest inventory of cattle on feed since 1996+0.3%
• Jul 24, 2017Cattle futures hit hard by on feed, inventory numbers - Brownfield Ag News-1.6%
• Aug 21, 2020Higher cattle inventory numbers could pressure market | Livestock | farmweeknow.com-1.2%
• Dec 2, 2019Understanding 'Placements' in the Cattle on Feed Report+0.5%
• Oct 24, 2023USDA Cattle on Feed Report Hits Cattle Prices Hard+1.1%

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.

• Nov 1, 2024Cattle on Feed Remains Elevated, Despite Low Cattle Inventory-1.7%
• Jul 25, 2025USDA Cattle on Feed Bullish, Inventory Report Confirms Record Low Herd - Drovers+0.8%
• Aug 1, 2024Growing on-feed inventory, lower placements and no sign of heifer retention-5.7%
• Feb 5, 2025Cattle Inventory Report | Industry News | feedlotmagazine.com-1.3%
• Jan 28, 2025Ongoing shortfall of replacement cattle spurs feedlots to hold on to their inventory | The National Provisioner-3.3%