World Perspectives
livestock

Cattle on Feed at Record Level for April

USDA released the monthly Cattle on Feed (COF) report for 1 April on Thursday, which was a day early because of the Good Friday holiday. The mostly neutral-to-slightly bearish report was in line with industry expectations. The total inventory of cattle on feed in feedlots of 1,000 head or larger capacity was 12 million, the 28th straight month of year-over-year increases and the largest number for 1 April since the series began in 1996. There is evidence of herd liquidation; the 12 million head on feed included 7.45 million steers and steer calves, 99 percent of 2018, and 45.1 million heifers and heifer calves, 108 percent of last year. The pace of marketing is still not current, slowed by the many weather issues in December through la...

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