The U.S. Department of Agriculture’s (USDA) cattle on feed report released last week showed a decline in cattle numbers from last year’s report.
Analysts Steve Meyer and Len Steiner noted pre-report estimates that came to fruition in this month’s report.
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 10.7 million head on February 1, 2016. The inventory was slightly below February 1, 2015.
There were 620,000 head of cattle and calves on feed in Iowa feedlots with a capacity of 1,000 head or more on Feb. 1, 2016, the report said. This was down 30,000 head from Feb. 1, 2015.
Placements in U.S....