Cattle and calves on feed in feedlots with capacity of 1,000 or more head totaled 12 million head as of Dec. 1, 2020, the U.S. Department of Agriculture reported last week. 

In Iowa, the inventory continued to lag the previous year’s numbers, coming in at 610,000 head for feedlots with capacity of 1,000 or more head, 12% below the Dec. 1, 2019, inventory. Additionally, the Dec. 1, 2020, inventory was 2% below the 620,000 head reported on Nov. 1, 2020.

Nationally, placements in feedlots during November totaled 1.91 million head, 9% below 2019. Net...