cattle market outlook december 2014

Cattle Supplies Remain Tight

Patterns of feedlot placements and slower fed cattle marketing contributed to the first year-over-year increase in feedlot inventory (Nov. 1) in more than two years, but cattle supplies remain historically snug.

Last Friday’s Cattle on Feed report surprised some with feedlot inventories 0.5% higher than the previous year at 10.59 million head, the first year-over-year increase in more than two years.

“Turning fewer cattle into larger feedlot inventories is the result of feedlot decisions about both placements and

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