LIVESTOCK MARKETS: Feedlot placements surprise analysts

USDA "Cattle on Feed" report shows feedlot inventories 1.3% higher than last year.

The U.S. Department of Agriculture released the latest “Cattle on Feed” report May 20, and the numbers surprised analysts, particularly with regard to placements.

Feedlot inventories on May 1 were 10.78 million head in feedlots with a capacity of more than 1,000 head, up 1.3% from May 2015. Market analysts expected a 0.1% year-over-year increase in cattle inventories, so the reported value came in well above analysts’ expectations and above even the highest expectations.

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