By Kirk MaltaisThe Agriculture Department said Friday that U.S. cattle inventories on feed through July 1 fell less than what was expected by analysts. Total supplies of cattle on feedlots were 11.2 million head, 1.8% lower from a year ago, the USDA said in its monthly Cattle on Feed Report. Analysts surveyed by The Wall Street Journal prior to the report expected the inventories to be down by 2.4% versus this time last year. Meanwhile, placements of cattle on feed rose, totaling 1.68 million head logged through July 1, a decline of 2.7%. To see related data, search "USDA Monthly Cattle on Feed Data" in Dow Jones NewsPlus.

Source: Wall Street Journal July 22, 2023 07:32 UTC