The February Cattle on Feed report from USDA showed a February 1 feedlot inventory of 12.1 million head, 101.5 percent of one year ago. January placements were 2.017 million head, up 3.2 percent year over year.
Placements were higher than the average pre-report estimate but at the top end of the range of analyst estimates.
The increase in placements was mostly in cattle weighing 700-900 pounds…
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