The U.S. inventory of cattle and calves on feed for the slaughter market, in feedlots with capacity of 1,000 or more head, totaled 11.6 million head on June 1, down 3% from a year ago, according to the U.S. Department of Agriculture’s (USDA) monthly Cattle on Feed report.

Placements totaled 1.96 million head during May, down 5% from 2022. Marketings totaled 1.95 million head, up 2% from last year.

Cattle ...