The latest USDA National Agricultural Statistics Service (NASS) Cattle on Feed report shows Aug. 1 feedlot inventories at 10.922 million head, down 1.6% year over year. This is the eighth consecutive smaller monthly inventory and is the smallest monthly feedlot total since October 2017 (Figure 1). The 12-month moving average of feedlot inventories, which removes seasonality and shows general trends, dropped in August to the lowest level since March 2019.
July feedlot placements were slightly larger than expected, likely reflecting early sales of “fall-run” calves in response to ever-higher feeder cattle prices. Feeder cattle volumes in Oklahoma auctions are up 27.2% year over year in the past six weeks. Higher-than-expected placements occurred despite the lack of Mexican cattle imports.
Texas placements were down 25% year over year; a 95,000 head reduction compared to one year ago. Total feedlot placements in July were down 104,000 head, meaning that the decrease in Texas accounts for over 91% of the total decline in monthly placements. July feedlot marketings were about as expected at 94% of last year.
The latest release of monthly livestock slaughter from USDA NASS shows that beef production in July was down 4.5% year over year, contributing to a year-to-date decrease of 2.7% for the first seven months of 2025. Total cattle slaughter thus far in 2025 is down 5.8%, including a 4.2% decrease in fed (steer plus heifer) slaughter and a 12.5% decrease in cow slaughter for the first seven months of the year.
Canada update
The Canadian statistical agency, Statistics Canada, released July livestock inventories recently. The total cattle inventory is 11.9 million head, up 0.8% and the first increase since 2021. After declining for several years, the beef cow herd in Canada increased by 0.4% and beef replacement heifers were up 2% year over year. It appears that some herd rebuilding is beginning in Canada. Cattle on feed in Alberta and Saskatchewan for Aug. 1 are down 0.4% year over year at 777,000 head.
Australia update
Cattle inventories in Australia have been increasing since 2021 to current levels, just over 27 million head. The latest quarterly reports show cattle on feed in Australia at a new record level of 1.6 million head. Cattle feeding in Australia has increased four-fold in the past 30 years and continues to grow. Grain-fed beef currently accounts for 29% of total beef exports from Australia. — Derrell S. Peel, Oklahoma State University Extension livestock marketing specialist
