A fall rally in cash fed cattle markets has added $5 to $6 per cwt. over the past three weeks. Feeder cattle remain in moderate demand, but drought conditions across much of the Great Plains is affecting cattle markets.
Placements of calves on feed for the slaughter market in the U.S. for feedlots with capacity of 1,000 head or more totaled 11.7 million head, as of Nov. 1, 2018. The inventory was 3% above the Nov. 1, 2017 report.