The USDA’s cattle on feed numbers for February came very close to pre-report estimates, showing at least some impact from late month colder than normal conditions and heavy snowfall in parts of the region, along with the relatively high feed costs and lower packer profit margins.
Placement of cattle into U.S. feedlots were down 2% on the year at 1.684 million head, with most of those 700 and 900 pounds, which will be marketed this summer.
