There were no surprises in USDA’s September “Cattle on Feed” report, as all numbers were in line with pre-report estimates.

The U.S. feedlot inventory totaled 11.2 million head on September 1, 2024, a 1% increase from the same time last year. Placements in feedlots during August totaled 1.98 million head, 1% below last year. The average pre-report trade estimate was for a 1% decline, as well.

Net placements were 1.92 million head. During August, placements of cattle and calves weighing less than 600 pounds were 395,000 head, 600-699 pounds were 305,000 head, 700-799 pounds were 435,000 head, 800-899 pounds were 485,000 head, 900-999 pounds were 265,000 head, and 1,000 pounds and greater were 90,000 head.

Marketings of fed cattle during August totaled 1.82 million head, 4% below 2023. The average pre-report estimate was for a 3% decline.

USDA said the report offers few clues as to whether producers are beginning to retain heifers for breeding. USDA livestock analyst Shayle Shagam said it could be another month before the next real clue.

"When we get the Oct. 1 inventory number, it will provide a breakout of the sex of the animals on feed, so that could provide us with a little indication about whether we're seeing higher proportions of heifers being put on feed," he said.