The latest Cattle on Feed report pegged the February 1 feedlot inventory at 11.8 million head, just fractionally above year ago levels. Feedlot inventories are declining after rising above year-earlier levels last October. Feedlot placements in January were 92.5 percent of last year, above the pre-report average estimate but within the range of estimates by some analysts. Some analysts were expecting a larger negative impact on placements from the winter storms in January. January marketings were even with one year ago.
The February Cattle on Feed report also includes a summary of…
