USDA Cattle on Feed Report      08/21  14:47

Aug. 1 Cattle on Feed Up 2% From Year Ago

By DTN Staff

                      USDA Actual   Average Estimate       Range

On Feed Aug. 1           102%            102.5%      102.3-102.9%

Placed in July            89%             93.5%        92.3-95.1%

Marketed in July          93%             92.6%        92.2-93.4%

* Estimates compiled by Dow Jones

This article was originally published at 2:06 p.m. CDT on Friday, Aug. 21. 
It was last updated with additional information at 2:47 p.m. CDT on 
Friday, Aug. 21.

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OMAHA (DTN) -- Cattle and calves on feed for the slaughter market in the 
United States for feedlots with capacity of 1,000 or more head totaled 
11.1 million head on Aug. 1, 2026. The inventory was 2% above Aug. 1, 
2025, USDA NASS reported on Friday.

Placements in feedlots during July totaled 1.42 million head, 11% below 
2025, NASS reported. Net placements were 1.37 million head. Placements 
were the lowest for July since the series began in 1996. During July, 
placements of cattle and calves weighing less than 600 pounds were 310,000 
head, 600-699 pounds were 215,000 head, 700-799 pounds were 320,000 head, 
800-899 pounds were 322,000 head, 900-999 pounds were 185,000 head, and 
1,000 pounds and greater were 70,000 head.

Marketings of fed cattle during July totaled 1.62 million head, 7% below 
2025, NASS reported. Marketings were the lowest for July since the series 
began in 1996.

Other disappearance totaled 55,000 head during July, 8% above 2025, NASS 
reported.

DTN ANALYSIS

"From the outside looking in, Friday's Aug. 1 USDA Cattle on Feed report 
should be viewed as neutral to somewhat bullish," said DTN Livestock 
Analyst ShayLe Stewart, following the report's release. "But given the 
current developments in the marketplace, it's likely the report will be 
glanced at and quickly forgotten. 

"I, personally, have a hard time calling this report bullish, even though 
some will argue that because placements are lower than a year ago, it 
should logically be deemed bullish. But with growing showlists and 
declining fed cash cattle prices, I can't overlook the increasing on-feed 
total. 

"This is the story that the industry has seen play out for months now, as 
the multidecade low in the beef cow herd has made placing feeder cattle 
more difficult and expensive. All while fed cattle are currently spending 
more time on feed and affecting the turnover speed in feedlots. 

"Needless to say, Friday's COF report will be quickly forgotten and 
overshadowed by Friday's announcement from the President Donald Trump that 
over the next 90 days, 300,000 metric tons of product are going to come 
into the U.S. tariff-tree for ground beef and that, on Monday, the U.S. 
border will reopen to Mexican cattle imports."

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DTN subscribers can view the full USDA Cattle on Feed report in the 
Livestock Archives folder under the Markets menu. The report is also 
available at https://www.nass.usda.gov/.