USDA's National Agricultural Statistics Service released its monthly Cattle on Feed report on October 23, 2026. U.S. feedlots with 1,000 or more head held about 11.4 million cattle on October 1, just under the count a year earlier. Steers made up about 62 percent of the total, and heifers on feed slipped 1 percent from 2025 to 4.30 million head.
The bigger story is the flow of cattle. Placements into feedlots during September were 1.78 million head, 12 percent below last year and the lowest September figure since the series began in 1996. Fed cattle marketings were 1.52 million head, down 7 percent and also a September record low.
Fewer placements alongside a steady inventory means cattle are staying on feed longer while fewer new calves come in behind them. That fits the tight supply picture producers have been living with: a smaller national herd, drought slowing rebuilding in some regions, and cattle imports from Mexico only gradually returning.
Why it matters for producers
With cattle this scarce, each animal is worth more. Losing fewer head on pasture and catching problems early pays more now than it has in years.
Source: USDA NASS: Cattle on Feed report (released October 23, 2026)
