From Drovers alert:
Feedyard inventories remain large
According to USDA's November Cattle on Feed report, feedyard inventories as of Nov. 1 totaled 12 million head, 4 percent above the same date last year and 6 percent above Nov. 1, 2004. Placements during October, however, dropped considerably from those of one year earlier, showing a 13 percent decline from October 2005. The trend toward fewer placements was expected as feed prices have increased and widespread drought pushed many calves into feedyards earlier than usual. Marketings of fed cattle during October totaled 1.77 million, 2 percent above 2005 but 2 percent below 2004.
Feedyard inventories remain large
According to USDA's November Cattle on Feed report, feedyard inventories as of Nov. 1 totaled 12 million head, 4 percent above the same date last year and 6 percent above Nov. 1, 2004. Placements during October, however, dropped considerably from those of one year earlier, showing a 13 percent decline from October 2005. The trend toward fewer placements was expected as feed prices have increased and widespread drought pushed many calves into feedyards earlier than usual. Marketings of fed cattle during October totaled 1.77 million, 2 percent above 2005 but 2 percent below 2004.
