– James Mitchell, Livestock Marketing Specialist, University of Arkansas
The National Agricultural Statistics Service released the August Cattle on Feed report on Friday. As of August 1, 2024, the total inventory of cattle and calves on feed in feedlots with a capacity of 1,000 or more head reached 11.1 million, a 0.3 percent increase from August 1, 2023. July feedlot placements were 5.8 percent higher than last year. July fed cattle marketings totaled 1.86 million head, 7.7 percent higher than last year. The report showed more cattle leaving and entering feedlots compared to a year ago, but this is not an indicator for larger total cattle supplies in 2024.
July feedlot placements totaled 1.70 million head, an increase of 94 thousand head compared to a year ago. It is important to remember that July 2023 placements were the lowest July placement total since 2016. For the 2014-present cattle cycle, July placements have averaged 1.67 million head. This year’s July placement is being compared to a small number.
The second graph (below) in this article shows cumulative feedlot placements through July of each year for the 2004-2014 and 2014-present cattle cycle. In 2024, cumulative January-July feedlot placements are 12.40 million head, a decline of 2.0 percent compared to 2023. We have had fewer total cattle entering feedlots this year.
