USDA says cattle feedlot inventories totaled 10.725 million head on Dec. 1, roughly 100,000 head fewer than traders were anticipating. This is second lowest Dec. 1 feedlot number since USDA's current data series began in 1996. The mildly smaller-than-expected On Feed number was due to the combination of Placements coming in nearly four percentage points under expectations and Marketings slightly outpacing the pre-report guess.
Avg. Trade Guess
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