USDA’s October Cattle on Feed report shows the continued downward trend in feedlot inventories. The number of cattle and calves on feed for slaughter market in the U.S. totaled 10.1 million head on October 1, 2014, down 1 percent below from last year. Placements in feedlots during September was 2.01 million, 1 percent above 2013, while marketing’s of fed cattle during September totaled 1.68 million, 1 percent below 2013. Gary Crawford has more on this story