From feedlot surveys, USDA tallied cattle on feed Feb. 1 at 10.711 million head, up from the 10.640 million head average trade guess among analysts responding to an Urner Barry survey earlier in the week. The inventory was up a fraction of a percent from last year.
January placements came in at 1.787 million head, slightly above the 1.751 million average trade guess and 89% of the January 2014 placement value.
January marketings of 1.625 million head are slightly below the 1.631 million average trade guess and 91% of January 2014 marketings.
The USDA Cattle on Feed report confirms that beef supply will remain tight.
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