USDA on Friday said the number of cattle on feed as of August 1 rose 2% from a year ago, while placements decreased by 11%. Inventory figures came in slightly below analyst expectations, while placements surprised to the downside.
July marketings were down 7% from a year ago. Cattle markets have been in a price downtrend the last two weeks that has pushed markets to near 10-month lows. Trade ahead of the report today saw cattle futures mostly pause, as October live cattle ended $0.075 lower at $217.925 and September feeder cattle gained $0.10 to close at $329.025.
| Cattle on Feed Report | USDA % of Year Ago | Average Estimate % of Year Ago* |
| Cattle on Feed (August 1) | 102% | 102.5 |
| Placements (July) | 89% | 95.8 |
| Marketings (July) | 93% | 92.7 |
A poll of analysts saw the average estimate for cattle on feed to rise 2.5% from last year, while placements were seen down 4.2% and marketings down 7.3%. Higher carcass weights have led to longer time spent in feedlots, pointing to inventories remaining relatively stable despite lower placements.
USDA said 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 August 1, 2026.
Placements in feedlots during July totaled 1.42 million head and the lowest for the month of July since data collection began in 1996. The next lowest number of placements on record is 1.55 million head in July of 2015. Net placements were 1.37 million head. Breaking down by weight, USDA said placements were:
- Under 600 pounds, 310,000 head,
- 600-699 pounds, 215,000 head,
- 700-799 pounds, 320,000 head,
- 800-899 pounds, 322,000 head,
- 900-999 pounds, 185,000 head,
- 1,000 pounds and greater were 70,000 head.
Marketings of fed cattle during July totaled 1.62 million head. Other disappearances totaled 55,000 head, 8% above 2025, highlighting the impact that high temperatures in the Plains had on beef production last month.