The first USDA Cattle on Feed report for the year shows lower placement of cattle on feedlots compared to the same period last year.
That is USDA livestock economist Mike McConnell. 11.8 million head of cattle were on feedlots as of January 1st which is a 1% decline from last year.
December placements were 3% lower than the previous year.
Another trend that is apparent in the report, lower heifer placements year over year for the second consecutive quarter.
McConnell provides more details from the January Cattle on Feed report.
