WASHINGTON, D.C. - The USDA May Cattle on Feed Report out last Friday afternoon showed on feed numbers down just 1% from the same time last year. Cattle The USDA May 2024 Cattle On Feed Report shows bullish conditions for cattle markets going forward.
I remain guardedly bullish in my outlook for the cattle complex through the remainder of 2024. To be truthful, I think this year may be one of the hardest to predict as the market s bearish and bullish influences are both extremely boisterous.
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.8 million head on April 1, 2024. The inventory was 1% above April 1, 2023, USDA NASS reported on Friday.
Beef trade was down after news of a fire at the National Beef processing facility in Liberal, Kansas. Company officials said the fire was in the loading dock and was contained within hours. No injuries were reported. Officials are continuing to assess damages.