After the surprising “Cattle on Feed” report last month, USDA’s November report was more friendly than expected. The report showed that cattle in feedlots with capacity of 1,000 or more head totaled 11.9 million head on November 1, 2023, a 2% increase from year-ago levels and in line with the average pre-report trade estimate.
Placements in feedlots during October totaled 2.16 million head, 4% above 2022. The average trade estimate was for a 6% increase over year-ago levels. Net placements were 2.11 million head. During October, placements of cattle and calves weighing less than 600…
