Derrell S. Peel, Oklahoma State University Extension Livestock Marketing Specialist — The latest USDA Cattle on Feed report pegs May 1 feedlot inventories at 11.725 million head, 104.7 percent of last year. A more useful comparison is to 2019 levels with the 2021 May 1 total down 0.7 percent from May 2019. After a February feedlot inventory that was the highest of any month since February 2006, strong marketings the past two months have reduced feedlot inventories below 2019 levels in April and May. April feedlot placements were larger than expected at 127.2 percent of year ago placements. However, April…
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