By Kirk MaltaisThe Agriculture Department said Friday that U.S. cattle inventories on feed through June 1 fell more than what was expected by analysts, while placements rose more than expected. Total supplies of cattle on feedlots were 11.6 million head, 3.4% lower from a year ago, the USDA said in its monthly Cattle on Feed Report. Placements of cattle on feed rose more than expected, totaling 1.96 million head logged through June 1, a rise of 4.6%. The USDA reported fed cattle marketed for the month ended June 1 totaled 1.95 million head, which is up 1.7% from last year's total. To see related data, search "USDA Monthly Cattle on Feed Data" in Dow Jones NewsPlus.

Source: Wall Street Journal June 24, 2023 07:33 UTC