Houston — The number of US cattle on feed totaled 11.093 million head on August 1, up 4.6% from 10.604 million head on the year-ago date, the US Department of Agriculture said Friday.
"This is the highest August 1 inventory since the series began in 1996," the USDA said in a statement.
The number of cattle on feed was slightly higher than the market expectations of 4.5% above year-ago levels, a source added.
The latest total was down 1.7% from 11.287 million head on July 1, USDA said.
The states with the largest inventory of cattle on feed were Texas at 2.72 million head, Nebraska at 2.33 million head, and Kansas at 2.23 million head.
Cattle on feed are steers and heifers being fed a ration of grain -- mostly corn, silage, hay and/or a protein supplement such as DDGS, ahead of slaughter. It excludes cattle held back for later sale to feedlots, and only feedlots with a capacity of 1,000 animals, or more, are considered.
The cattle on feed data is an indicator of US demand for corn and DDGS.
