The U.S. Department of Agriculture on Friday released its latest “Cattle on Feed” report, showing that the total inventory for U.S. feedlots with a capacity of 1,000 head or more totaled 12.0 million head on Dec. 1, a 2% increase from Dec. 1, 2018. The inventory was in line with analysts' pre-report estimates.

Placements in feedlots during November, however, came in higher than expected, at 2.09 million head, 5% above 2018. Analysts had expected only a 1% rise in placements during the month.

USDA reported that net placements were 2.03 million head. During November, placements of cattle and calves were: 620,000 head for those weighing less than 600 lb., 500,000 head for the 600-699 lb. weight range, 423,000 head for 700-799 lb., 310,000 head for 800-899 lb., 130,000 head for 900-999 lb. and 110,000 head for 1,000 lb. and greater.

Marketings of fed cattle came in as expected, totaling 1.81 million head during November, 3% below 2018.