Late last week, the USDA announced the the second highest cattle feedlot inventory on record. The Department reported 11.9 million head as of early March, a 5% year over year increase. Livestock Analyst Shayle Shagam, says there are a couple of factors helping to boost placements in March.
One of them was bad weather in February, “which limited the ability of producers to move the animals to the feedlot so, in March we’re probably playing catchup.
And the other factor, again the weather.
“Dryness, which has begun to appear in parts of the plains religion. Supplies are limited which might have encouraged some producers to move cattle in to feedlots rather than keep them on grass.”
Shagam adds while placements increased substantially, experts were expecting a bigger number, which may result in a price bump this summer.
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