U.S. average price per gallon went down 57 cents since midspring due to production increases after refinery maintenance.

According to the USDA Cattle on Feed report published Oct. 25, total U.S. inventory of cattle on feed for the slaughter market on Oct. 1 was 11.6 million head, a slight drop from the same report in 2023.

The latest Cattle on Feed report, published by the USDA National Agricultural Statistics Service (NASS), estimated the Sept. 1 feedlot inventory at 11.198 million head, about 1% above 11.127 million head in the same month last year.

The October Feed Outlook report shows this month’s 2024-25 U.S. coarse grains outlook is for reduced supplies, despite an increase in output. Although sorghum supplies are raised on higher production and beginning stocks, lower corn carry-in for 2024-25 more than offsets these gains – including a corn production bump.

McDonald’s has filed a lawsuit against the U.S. meat industry’s major beef processors and their subsidiaries for alleged price fixing.

The latest Cattle on Feed report, published by the USDA National Agricultural Statistics Service (NASS), estimated the Aug. 1 feedlot inventory at 11.095 million head, less than 1% above 11.064 million head in the same month last year.