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Austin Schroeder at Barchart.com said, “USDA Cattle on Feed data from Thursday afternoon showed May placements down 9.7% from a year ago and below estimate calling for a 5.5% drop from a year ago. Marketings were down 11.77% compared to 2025 at 1.551 million head. June 1 on feed inventory was 2.09% larger than the same period last year at 11.682 million head.”