Another Monthly Record For Cattle On Feed

Feeder cattle activity during April exceeded trade expectations, resulting in a record population on hand to start May.  USDA’s monthly Cattle on Feed update showed 11,967,000 head on hand, an increase of two percent from a year ago but a net drop during April of 172,000 head.  Placements and marketings were both lower from a year ago but not as low as expected, with placements totaling 1,809,000 head and marketings at 1,893,000.