US feedlot inventories have again increased compared with a year ago, according to the latest United States Department of Agriculture Cattle on Feed report.
Meat and Livestock Australia reports that the number of US cattle on feed rose by 1.5 per cent as at 1 November (year-on-year), totalling 11.1 million head.
Placements during October, at 2.47 million head, were 1.5pc higher than a year earlier, and were smaller than pre-report estimates, which expected placements to be up 2.6pc.
This marks the fourth consecutive month that numbers have increased compared to last year.
Feedlots continue to place heavier animals on feed, which should maintain the bias towards heavier weights of fed cattle and the increased likelihood of more cattle being graded Choice into early 2010, according to Steiner Consulting.
Placements of cattle weighing 363kg or heavier accounted for 25.7pc of October placements.
Last year such cattle made up 23.8pc of total placements while the five-year average was 18.1pc.
MLA says that according to the USDA, marketings of fed cattle during October totalled 1.76 million, 3.3pc below 2008.
Marketings were smaller than pre-report estimates, which expected marketings to be 2.9pc lower.
