Higher placements and reduced marketings resulted in an October 1 feedlot inventory of 11.58 million head, 0.6 percent higher than one year ago. This was the first monthly year-over-year increase in 13 months and the second highest October on-feed total in the data series back to 1996.
The October USDA Cattle on Feed report showed September feedlot marketings down 10.6 percent year over year. This marketing total reflects one less business day in the month compared to last year and was slightly less than average pre-report estimates for marketings.
September feedlot placements were up…
