Cattle inventories in feedlots continued to climb year-over-year, but place­­­­ments were lower, according the U.S. Department of Agriculture's (USDA) monthly Cattle on Feed report Jan. 19. 

 Cattle and calves on feed for the slaughter market in U.S. feedlots with capacity of 1,000 or more head totaled 11.9 million head on Jan. 1. The inventory was 2% above Jan. 1, 2023,  in line with pre-report expectations. 

Placements in feedlots during December totaled 1.7 million head, 4% below the previous year. Analysts said the...