US cattle market sees bearish pressure as feedlot inventories rise

US cattle feeders are facing bearish market conditions after a smaller June harvest of 512,000 head, 16,000 fewer than the previous week and 25,000 below the same period last year. Fed cattle numbers fell to 417,000 head, the lowest non‑holiday level since spring, while feedlot inventories rose by an estimated 250,000 head compared with last July.

Prices for top‑quality beef steers and heifers increased to $227‑$238 per cwt, with mixed Choice and Select cattle ranging from $202‑$227 per cwt. The market also noted a pending lockout at the Cargill Fort Morgan packing plant that remains unresolved, keeping the facility closed.

Imports of Mexican feeder cattle are slated to resume on August 24, with the Douglas, AZ port opening conditionally first, followed by Columbus, NM on September 14 and Santa Teresa, NM on September 21. Additional import steps are expected to slow cattle movements as Mexico expands its feeding and packing capacity.