USDA Cattle On Feed Report

Friday's U.S. Department of Agriculture's cattle inventory report, released after the livestock futures closed on Friday, showed about 1.481 million cattle entered U.S. feedlots (placements) as of July 1, up 1 percent versus a year ago. The beef cow herd was 30.5 million head up 2.5 percent versus a year ago. Total cattle inventory came in at 98.4 million, up 2.1 million head versus a year ago. Marketings of fed cattle was 1.75 million, down 5 percent versus a year ago.