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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