The total inventory on October 1 was 11.6 million head, down one percent from last year. That number was on the low end of trade expectations. With a three percent year-over-year decline, marketings were in line with expectations. Placements were down three percent at a time when the average trade guess was calling for 1.4 percent increase in placements. The cattle inventory was down 14 percent in Minnesota and up five percent in South Dakota.
