The latest cattle on feed report from the U.S. Department of Agriculture (USDA) last week shows larger inventories of cattle in Iowa and in the United States.

Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 10.8 million head on July 1, 2017. The inventory was 4 percent above July 1, 2016.

There were 670,000 head of cattle in Iowa feedlots with a capacity of 1,000 or more head as of July 1, the USDA said. This was up 10 percent from July 2016.

Placements in U.S. feedlots during June totaled 1.77 million head, 16 percent above 2016, the report said. There...