The latest USDA Cattle of Feed Report is viewed as a negative surprise for the cattle markets. Market analysts were expecting total on-feed numbers to be steady to slightly lower than one year ago. The number of cattle on feed as of April 1 was up two percent from one year ago at 12 million head. Placements were higher than expected at two million head. Marketings were in line with trade guesses at two million head, down two percent from a year ago.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.