USDA released their monthly Cattle on Feed report this past Friday, and the numbers show cattle and calves on feed for the slaughter market in the U.S. for feedlots with capacity of 1,000 or more head was at 11.3 million head on November 1, six percent above November 1, 2016. And according to a story from Gary Crawford, the report adds more evidence of a substantial boost in beef output next year and some lower steer prices.
