Cattle on feed up 1%, placements down 2%

The USDA says there were more cattle and calves in U.S. feedlots at the start of this month than on any other June 1st on record.

The on feed total of 11.846 million head was up 1% on the year as continued drought impacting pasture and range conditions in some of the major feeding areas outweighed concerns about high feed prices.

Placements into feedlots during May were 2% lower at 1.914 million head, with most of those weighing between 700 and 900 pounds, indicating tighter market ready supplies this fall.

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Cattle on feed up 1%, placements down 2%