There were no major surprises in the latest Cattle on Feed Report, as feedlot inventories came in close to year-ago levels. As of December 1, U.S. feedlots had 12 million head. “So, about 5,000 more head on feed than December 1, 2019,” says Shayle Shagam, livestock economist, USDA. “In terms of working down that ‘bulge’ of cattle that got backed up because of COVID earlier in the year, it would appear most of those cattle have moved through the feedlots.” Texas feedlots ended with year-over-year gains dropping one percent, while Kansas and Nebraska posted moderate gains of three and two percent, respectively. November placements into feedlots are nine percent lower than one year ago. Cattle prices were also lower for 700-800-pound feeders compared to last year. Cattle on feed numbers remained steady in South Dakota, while Minnesota feedlots experienced an eleven percent drop. Looking forward, a resurgence in COVID-19 cases throughout the winter will be the big question for cattle feeders. Listen to the story.