Larger feedlot inventory
The USDA reported that the May 1 feedlot inventory totaled 11.584 million head, up 2 percent from the previous year. That compares to 11.376 million head on May 1, 2025.
The larger inventory stands out because recent reports had still pointed to historically tight feeder cattle supplies. The April report showed feedlot supplies slightly below last year, while March placements had fallen sharply. This month’s report showed a different picture, with higher placements and lower marketings helping push the May 1 inventory above year-ago levels.
The April 1 inventory had totaled 11.576 million head, meaning the May 1 feedlot herd was nearly steady with the previous month.
State-level numbers were mixed. Kansas feedlot inventory totaled 2.37 million head, up 3 percent from last year. Nebraska totaled 2.64 million head, up 4 percent. Texas was steady with last year at 2.58 million head.
Placements increase
April placements totaled 1.702 million head, up 6 percent from a year ago. Net placements were 1.65 million head.
That is the most bearish part of the report. Placements had been one of the strongest pieces of support for the cattle market in recent months, with tighter feeder cattle supplies limiting the number of cattle moving into feedlots.
The increase does not erase the broader tight-supply story, but it does soften it. More cattle moved into feedlots during April than last year, which could add to fed cattle availability later in the year.
Placements were especially strong in several major feeding states. Colorado placements were up 17 percent from last year, Idaho was up 18 percent, Kansas was up 5 percent, Texas was up 8 percent and Washington was up 33 percent. Nebraska was the notable exception, with placements down 2 percent from last year.
By weight class, placements were heaviest in the 800-899 pound category at 457,000 head. Cattle weighing 700-799 pounds totaled 390,000 head, while placements under 600 pounds totaled 330,000 head.
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