The number of U.S. cattle and calves on feed in 1,000-head or more feedlots totaled 11.7 million on April 1, an increase of 7 percent above a year ago and the second highest April 1 inventory since reporting began in 1996,  the U.S. Department of Agriculture said last week.

Placements in U.S. feedlots during March totaled 1.92 million head, 9 percent below 2017. Marketings of fed cattle during March totaled 1.84 million head, 4 percent below 2017.  

Placements were very near the pre-report estimates, noted Scott Brown, University of Missouri livestock...