By Kirk Maltais
Heads of cattle on feed for the slaughter market are up 5% versus this time last year, the USDA said Friday.
In its monthly Cattle on Feed report, the USDA said that cattle-on-feed inventory through June 1 totaled 11.7 million head, 105% of where it was last year. It's the second-highest June inventories have been since the USDA began keeping records in 1996.
Feedlot placements totaled 1.91 million head, down 7% from June 1 of last year. This is a larger decrease than forecast by analysts surveyed by The Wall Street Journal this week, who had expected a 5% dip.
Marketings of fed cattle during May totaled 1.87 million head, 23% above 2020. This meets the forecasts of analysts.
Live cattle futures traded on the CME finished 0.2% higher at $1.228 a pound Friday, while lean hog futures finished up 1.1% to 99.775 cents per pound.
To see related data, search "USDA Monthly Cattle on Feed Data" in Dow Jones NewsPlus.
Write to Kirk Maltais at kirk.maltais@wsj.com
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June 26, 2021 at 02:16AM
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U.S. Cattle on Feed Rise - MarketWatch
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