USDA: Cattle Feedlot Numbers Jump

The USDA is reporting the second-highest April 1st cattle feedlot inventory ever, at 11.7 million head, which is up 7% from a year ago.  In that inventory are more heifers, 4.6 million to be specific, that's up 14% year-over-year.  USDA Livestock Analyst Shayle Shaggem said heifers are 35.7% of the entire inventory, 2% higher than this time last year.  And he points out, there are several reasons behind that increase.

"Dry conditions, relatively weak cattle prices, going forward, which obviously works its way back down the chain to feeder-calf prices."

That feeder calf prices are around $145 cwt, a drop from last year's $148 cwt.

"We do expect to see those prices to come down further as we move into the mid-part of the year, probably averaging in the high $130s during the third quarter."

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