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March Feeder Cattle Numbers Below Trader Expectations

Shot of a group of cows standing inside a pen in a barn

Movement through the nation’s feedlots was not as robust as analysts expected during March. USDA’s monthly Cattle on Feed report indicated that 1,997,000 head of cattle were placed on feed last month, a 28% gain from last year’s COVID-depressed figure. However, traders were expecting a 34% jump. Marketings increased slightly at 2,040,000. Population on feed to start April came out to 11,897,000, up five percent but below analyst predictions. That figure included 4,490,000 heifers, a seven-percent increase from a year ago.

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