The USDA’s latest Cattle on Feed report had placements in May at the low-end of pre-report estimates.
University of Missouri livestock economist Scott Brown says that’s good news for cattle markets. “Placements were down, suggesting to me we get fewer cattle as we get into late 2021 and into late 2022,” he says. “Yet today we’re still sitting with feedyards that are fairly full.” On Feed June 1 came in at 100.2, which is the second higher June 1 inventory since the industry started recording that data.
