Friday's USDA Cattle Feedlot Report provides more evidence that the cattle market is tightening up.  USDA livestock analyst Shayle Shagam said that as of June 1st, the nation's feed lots with 1000 or more head capacity, had an inventory of 11.8 million head, 1% more than June 1st of last year; the highest June 1st inventory since at least 1996.  Shagam said, though, feedlot placements, at 1.8 million head, were 2% below May a year ago, and also among those placements more light weight cattle than normal.

"It implies it conditions are still sufficiently poor in much of the country that you are being forced to put cattle into feedlots, probably little bit earlier than expected.  The fact that you don't have a whole lot of heavier weight cattle to be placed, could be implying that we are looking at these tighter supplies of cattle."

We'll know more about that July 24th when USDA releases its Cattle Inventory Report.

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