The U.S. Department of Agriculture released the latest “Cattle on Feed” report last Friday. It showed that cattle and calves on feed for the slaughter market in the U.S. for feedlots with a capacity of 1,000 head or more totaled 10.9 million head on April 1, which was slightly above last year during the same period by 0.5%. Analysts had expected the inventory to be slightly below last year.
The inventory included 7.23 million steers and steer calves, down 2% from the previ
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