A Drovers article
USDA’s latest monthly Cattle on Feed report delivered a distinctly bullish surprise for the cattle complex on Oct. 23, 2026, led by a double-digit drop in feedlot placements that marks the third consecutive monthly record low.
According to USDA National Agricultural Statistics Service (NASS) data:
Placements into feedlots during September totaled 12.1% below year-ago levels, setting a new record low for the month since the data series began in 1996.
Cattle on Feed inventory as of October 1 came in at 0.4% below last year.
Marketings of fed cattle during September were down 6.6% compared to a year ago.
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