Placements on feedlots of capacity of 1,000 or more fell 2.6% from a year ago, according to the USDA’s monthly report. That’s the lowest April placements amount since 2020. Analysts were expecting a drop of 2.5%, according to ADM Investor Services. The U.S. feedlot herd as of May 1 were down 1.5% y/y to 11.376m head. Cattle marketed from feedlots declined 2.5% to 1.825m head, the report indicated.
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