Cattle on Feed Most since 2008 11/20/2020

Cattle on feed November 1 hit the highest level since 2008 but October feedlot  placements were at the low end of recent history. Finished cattle marketings in October were at the high end of recent history. Finished cattle supplies are expected to remain adequate to slightly surplus through the late winter. Spring and summer fat cattle supplies could tighten if October trends remain intact.