The U.S. Department of Agriculture’s latest “Cattle on Feed” report showed that cattle and calves in feedlots with capacity of 1,000 head or more totaled 11.8 million head on May 1, 2019, a 2% increase from May 2018. USDA said it is the highest May 1 inventory since the series began in 1996. The number was, however, slightly lower than the average pre-report estimate of 3%.

Placements in feedlots during April totaled 1.84 million head, 9% above 2018. This came in much lower than the average trade estimate of 14%.

USDA report that net placements were 1.78 million head. During April, placements of cattle and calves were 355,000 head for those weighing less than 600 lb. 250,000 head for those weighing 600-699 lb., 447,000 head for those weighing 700-799 lb., 495,000 head for those weighing 800-899 lb., 210,000 head for those weighing 900-999 lb. and 85,000 head for those weighing 1,000 lb. and greater.

Marketings of fed cattle during April totaled 1.93 million head, 7% above 2018. The trade had expected a 6% increase.

Other disappearance totaled 60,000 head during April, 5% below 2018.