The Cattle on Feed report showed lower numbers of total cattle on feed and placements, but once again, the marketings were much lower than compared to on feed and placements. Total cattle on feed came in at 11.6 million head as of May 1 this year, down 3 percent as compared to May 1 last year. Placements during April of this year were down 4 percent as compared to last year at 1.75 million head. Marketings, on the other hand, were down 10 percent as compared to the same month last year. It is very evident that the packers have...

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