ANALYSIS: Three Straight Months of Record-Low Placements Point to Tightening Cattle Supplies

USDA's October 1 Cattle on Feed report showed 11.372 million head in feedyards, just 0.40% below a year ago and 1.42% below the five-year average. This was the second lowest total for October 1 in the last 9 years. That is up 204,000 head from September 1. September placements of 1.777 million head were 12.07% below last year and 16.33% below the five-year average, the lowest for September since the series began in 1996. This marks the 3rd month in a row of fresh record...

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