Adam Clarke on Genesis 47:16

Give your cattle - This was the wisest measure that could be adopted, both for the preservation of the people and of the cattle also. As the people had not grain for their own sustenance, consequently they could have none for their cattle; hence the cattle were in the most imminent danger of starving; and the people also were in equal danger, as they must have divided a portion of that bought for themselves with the cattle, which for the sake of tillage, etc., they wished of course to preserve till the seven years of famine should end. The cattle being bought by Joseph were supported at the royal expense, and very likely returned to the people at the end of the famine; for how else could they cultivate their ground, transport their merchandise, etc., etc.? For this part of Joseph's conduct he certainly deserves high praise and no censure.