America’s largest feedlots saw higher than expected placements during September, resulting in a net increase to overall inventory. USDA’s monthly Cattle on Feed report counted 11,580.000 head on hand at the start of October, up one percent from a year ago and a net gain of 486,000 during September. That’s as a result of a six-percent jump in placements, totaling 2,206,000 head. Marketings in the past month were down 11 percent at 1,663,000. Both placements and marketings were more extreme than trader expectations.