Inventory of cattle in U.S. feedlots makes rare upturn

There were 10.6 million head of cattle in U.S. feedlots being fattened for slaughter on Nov 1, up slightly from this point a year ago, says USDA. Feedstuffs says it is the first time since August 2012 the monthly tally was higher than the year-earlier figure. In its Cattle on Feed report, USDA said producers sent 1.69 million head to market during October, down 8 percent from 2013, and put 2.36 million head on feed during the month, down 1 percent but also second-lowest for an October in 18 years. Feedstuffs says analysts expected a decline of 6-7 percent because placements were unusually large in October 2013.

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