Feedlot inventories were below year-ago levels for the fourth consecutive month according to the latest USDA Cattle on Feed report. There were an estimated 11.68 million head of cattle on feed as of January 1st, which is 3 percent lower than January 1, 2022.
December placements were down 8 percent compared to December 2022 which was in the range of pre-report expectations. All of the weight groups were lower except for the 900-999 pound group which was even with a year ago. December marketings were 6 percent and…
