# Derrell Peel Sees Uptrend in Cattle Markets Offsetting Seasonality - Oklahoma Farm Report

> USDA's April 21, 2023 Cattle on Feed report showed March placements and marketings at 99% of a year earlier, and April 1 on-feed inventory at 96% of last year. Placements were slightly above expectations, and analyst commentary said the report was not severely bearish. Derrell Peel said tighter supplies are developing gradually.

- Date: 2023-04-24 · published 2023-04-24T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/6727-derrell-peel-sees-uptrend-in-cattle-markets-offsetting-seasonality-oklahoma
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Lower on-feed numbers confirm a gradually tightening cattle supply, supporting prices, though the report's placements slightly above estimates could weigh briefly on futures.

## Read by commodity

- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2025-09-21 | [Dr. Derrell Peel: September Cattle on Feed Shows Ongoing Tightening of Feedlot Numbers - Oklahoma Farm Report](https://feedsoft.ai/events/23017-dr-derrell-peel-september-cattle-on-feed-shows-ongoing-tightening-of-feedlot.md) | -0.8% | +0.3% |
| LCATTLE | 2023-10-23 | [Ensuring High Cattle Prices Longer - Oklahoma Farm Report](https://feedsoft.ai/events/33789-ensuring-high-cattle-prices-longer-oklahoma-farm-report.md) | +0.4% | -3.5% |
| LCATTLE | 2021-02-04 | [January Cattle Inventory and Cattle on Feed Reports \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/48571-january-cattle-inventory-and-cattle-on-feed-reports-farm-bureau-intel-markets.md) | +0.8% | +2.4% |
| LCATTLE | 2025-12-04 | [Bullish Cattle Report Does Not Indicate Herd Expansion \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/21454-bullish-cattle-report-does-not-indicate-herd-expansion-farm-bureau-intel.md) | +4.1% | +8.1% |
| LCATTLE | 2026-01-27 | [Live & Feeder Cattle Futures Up, December Placements Down 5.38% \| Market Report - News and Statistics - IndexBox](https://feedsoft.ai/events/21198-live-and-feeder-cattle-futures-up-december-placements-down-5-38-market-report.md) | +1.5% | +4.5% |
| FCATTLE | 2025-09-21 | [Dr. Derrell Peel: September Cattle on Feed Shows Ongoing Tightening of Feedlot Numbers - Oklahoma Farm Report](https://feedsoft.ai/events/23017-dr-derrell-peel-september-cattle-on-feed-shows-ongoing-tightening-of-feedlot.md) | -0.6% | +3.6% |
| FCATTLE | 2023-10-23 | [Ensuring High Cattle Prices Longer - Oklahoma Farm Report](https://feedsoft.ai/events/33789-ensuring-high-cattle-prices-longer-oklahoma-farm-report.md) | -2.0% | -5.5% |
| FCATTLE | 2025-12-04 | [Bullish Cattle Report Does Not Indicate Herd Expansion \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/21454-bullish-cattle-report-does-not-indicate-herd-expansion-farm-bureau-intel.md) | +2.0% | +7.3% |

## Sources

- oklahomafarmreport.com: https://www.oklahomafarmreport.com/2023/04/24/derrell-peel-sees-uptrend-in-cattle-markets-offsetting-seasonality/

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