The USDA’s cattle on feed numbers were close to pre-report expectations.
The total number of cattle on feed in the U.S. on June 1st was up slightly on the year at 11.699 million head, the second highest for the month since the series of reports started 25 years ago.
Placements during May were at the low end of estimates and could be a little friendly, down 7% from a year ago at 1.911 million head, which would mean fewer cattle available for marketing late this year and early next year.
