The USDA says there were 11.717 million cattle and calves on feed in the U.S. on October 1st. That is an increase of 4% on the year and the highest October 1st inventory since the series of reports started, but there are some signs expansion could be slowing. The steer and steer calf inventory was 7.31 million head, 6% higher, while heifers and heifer calves were 4.41 million head, slightly lower than last year.
Placement into feedlots were up 6% at 2.227 million head, most of those cattle weighing between 700 and 1,000 pounds, even as corn and hay prices rise, and marketings during September were 1.846 million head, also up 6% on the year.
