The U.S. cattle herd is continuing to slowly rebuild with more cattle on feed and fewer marketings during May, the U.S. Department of Agriculture said last week in its monthly cattle on feed report.

Cattle and calves on feed for slaughter market in U.S. feedlots with capacity of 1,000 or more head totaled 10.6 million head on June 1, the USDA said. The inventory was 1 percent above a year ago.

Iowa had 650,000 cattle on feed in feedlots with capacity of 1,000 head or more, 2 percent above last year at the same time.

Placements in U.S. feedlots during May totaled 1.71 million, 10 percent below 2014. Iowa placements jumped 20 percent above last...