The most recent Cattle on Feed report was released by USDA on Friday, June 24. Total cattle on feed numbers came in at 11.8 million head, up 1 percent from last year and the highest June 1 inventory since they started keeping track in 1996. The pre-report guess was at 101.5 with a range of 101.0-101.9, so at least it came in at the low end of the range at 101. Placements during May were down 2 percent as compared to last year at 1.87 million head. The average estimate was 99.8 with a range of 99.0-101.6, so at 98,...

Article Link