Cattle on feed up; beef production down

The June Cattle on Feed report showed a feedlot inventory 2.1 percent larger year over year. This was the second consecutive month of larger feedlot totals (May was up 1.8 percent year over year) after 17 months of year over year decreases in cattle on feed inventories. However, a bigger feedlot total does not mean that cattle numbers are increasing. Feedlot inventories increased year over year in May and June because feedlot marketings have decreased more than feedlot placements. In the past twelve months, feedlot placements have decreased 6.1 percent while feedlot marketings have decreased 7.8 percent. Figure 1 shows that average feedlot placements and marketings have decreased sharply in recent months.

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Derrell Peel Oklahoma State University Extension

June 30, 2026