The latest USDA Cattle on Feed report showed feedlot inventories at 11.505 million head on February 1, down 1.8 percent year over year and the fifteenth consecutive month of declining feed inventories.  January placements were down 4.7 percent year over year while January marketings were down 13.0 percent compared to last year.  January marketings were likely hampered by the winter storm at the end of the month, pushing some January marketing into February.  The report was well anticipated and did not contain any surprises for the market.  The February Cattle on Feed report also contains a summary of...

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