Fed Lot Data points toward tight Beef Supplies – 06/24/2023

USDA reported the number of cattle on feed June 1. 2023, down three percent from a year ago. Both feeder cattle placements and finished cattle marketings increased in May 2023 compared to a year ago.

Fed cattle account for about 60% of US cattle total slaughter. We have calculated estimates for finished cattle marketings, cow-bull slaughter and  resulting beef production for the second half of 2023. Beef production appears likely to fall well short of the year earlier level over the next six months