USDA NASS released Cattle on Feed Friday which showed a significant drop in placements, down 7.2% from a year ago in February. Weight breakdowns were universally lower, but the categories closest to a year ago were 900-99 pounds and over 1000 pounds. Pre-report ranges estimated placements would be substantially lower, but actual data came in on the low end of the range. Marketings were very close to the average of pre-report estimates, 95% of a year ago vs the estimate of 95.8. On feed numbers were in line with the pre-report estimate. Cattle on feed longer than 90 days grew...

Article Link