Mike Pearson takes a look at the USDA’s cattle on feed report released Nov. 17.
The report revealed there were 11.9 million cattle on feed at feedlots 1,000 or more head totaled. The inventory was 2 percent above November 1, 2022.
Placements in feedlots during October totaled 2.16 million head, 4 percent above 2022. Net placements were 2.11 million head. Marketings of fed cattle during October totaled 1.76 million head, 3 percent below 2022.
Overall, the trader’s response to the report was mixed. The placement number of cattle coming to will mean more in February and March time frame and that…