Your question seems to be specifically limited to grain fed to livestock, even though a great deal of the feed grown for livestock is not grain, and most livestock are not fed, let alone fed grain. It's likely based on stories like this one saying "U.S. could feed 800 million people with grain that livestock eat, Cornell ecologist advises animal scientists". I wonder whether in fact you are asking "is that Cornell story true"?
I suspect it is, but you have to read past the headline to get any value from the story. That link even includes useful quotes like this:
About 26 million tons of the livestock feed comes from grains and 15 million tons from forage crops.
So the question is not "if we fed people all that animal food", but "if we took the grain and fed that to people". Given that and the other reasonable points made, I am inclined to take the research at face value. The news media nonsense that flows from it, much less so. For example, anyone suggesting that the researcher assumes a vegetarian (or vegan) lifestyle would result has neither read the article nor research paper, or is lying. Or both. The vegetarian research has been done, but this is not it.
There are multiple references to US livestock consuming most of US grain production so I think that isn't controversial. Also without question, the grain could be eaten by people. I strongly suspect that the US is, however, an outlier on that aspect - worldwide, most grain will be fed to humans rather than other animals - GlobalIssues and others suggest about 1/3rd but sadly don't give references.
Globally, about 2.5 billion tons of grain are produced each year and using that 1/3rd number, approximately 800 million tons is wasted on livestock. Again, roughly speaking (using freerice.com's estimate of 0.5kg/person/day) that could support about 4 billion people, assuming they could also get enough other food to provide essential nutrients (and water etc etc).
If instead we focus on land used to grow all fodder crops the question becomes more complex. For example, fodder crops are grown on land that can't usefully be used to produce food for humans, or fodder is a secondary product of a food crop (palm oil kernals, for example). But if the secondary product wasn't sold, it's likely that less of the primary crop would be produced (at least on a global, roughly Pareto-optimal first approximation).
The second problem is that most fodder crops that can be eaten by humans are poor sources of protein, and in many ways it's protein that matters - that is the dietary factor that limits human population more than any other (the political factors that lead to calory deficiency are not really part of the question as I understand it - we currently produce enough food calroies to feed roughly twice our population). While it's possible to grow protein crops on much fodder crop farmland, the yield will be reduced.
In the limiting case, you might look at the cutting of remote Australian grassland for hay in flood years, where that land is generally not usable at all for human feed crops. If hay is produced one year in five, perhaps a small wheat crop could be produced instead. But wheat is harder to grow and more likely to fail to produce a usable harvest. So maybe one year in 20 you'd need wheat harvesting equipment, a very long way from the next nearest source of wheat. It's never going to be economic. That's based on my observation of Australian cattle farming in northern Australia, so it's anecdotal rather than factual.
You can't just say "X kilojoules of animal fodder therefore X kilojoules of human food", let alone "therefore X kilojoules of human-accessible protein". The reason poor asians feed rice to chickens is not because they particularly value chickens as pets, it's because chickens turn otherwise hard to use rice into protein and they really need the protein. Food scraps, crop residues, anything the chicken (or pig) can eat that people can't, it all becomes usable protein once the animal eats it.
Note that this is much less than the 1/3 of ALL human food that is wasted every year, and quietly skips around the other factors that mean millions of people starve despite a global surplus of food.