The Cattle on Feed report provides monthly estimates of the number of cattle being fed for slaughter. For the report, the Agriculture Department surveys feedlots of 1,000 head or more as this category of feedlots represents 85% of all fed cattle. Cattle feeders provide data on inventory, placements marketings and other disappearance.
The report showed a total inventory of 11.7 million head for the United States on June 1. This increase of 1.6% is slightly above average analyst expectations, as most industry analysts were predicting a year-over-year increase in feedlot inventories of 1.3%.
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