USDA’s monthly cattle on feed report may have surprised a few analysts. The new report shows the number of cattle and calves on feed for the slaughter market in the U.S. was 11.0 million head on May 1, two percent above May 1, 2016. But the surprise was with the placements in feedlots, as in April that number was 1.85 million head, 11 percent above 2016.
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