The U.S inventory of cattle and calves on feed for the slaughter market, in feedlots with capacity of 1,000 or more head, totaled 12.1 million head on April 1, the USDA said last week in its monthly Cattle on Feed report. 

The inventory was 2% above April 1, 2021. This is the highest April 1 inventory since the series began in 1996. 

Iowa’s inventory slipped 5% compared to April 1, 2021, to 600,000 head in feedlots with capacity of 1,000 or more. This total is also 2% below the...