Cattle On Feed Show Large May Inflows

Monthly Cattle on Feed would be disappointing with May placements 1.955 million head. That is the largest May inflow in three years. It was +4.6% from last year and over the trade estimate of +1.7% (ALDL +0.1%). This would stop eight months of declines which averaged -4.5% from prior year. May placements determine a part of November – February finished cattle supply.

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