The U.S. Department of Agriculture's latest “Cattle on Feed” report showed that cattle and calves on feed for the U.S. slaughter market in feedlots with a capacity of 1,000 head or more totaled 11.1 million head on Sept. 1, 2018. The inventory was 6% above the same period last year and the highest Sept. 1 inventory since the series began in 1996, USDA said. The average pre-report trade guess was for a 5.4% increase.
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