Large December placements once again pushed feedlot inventories higher year-over-year on January 1 according to a DTN report. Feedlot placements in December were 106.5 percent of last year, higher than the average trade expectation. December marketing were about as expected at 100.8 percent of one year ago. Daily average marketings were five percent higher year over year in December due to one less slaughter day in the month. At the beginning of the year, the inventory of steers in the feedlots was .5 percent below on year ago while the number of heifers on feed was up 2.4 percent. Although cattle numbers are at a general decline, feedlots are trying to maintain inventories for as long as possible. Cattle slaughter is projected to reduce by 2.5-3 percent in 2022.
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