Cattle on feed dynamics

The December Cattle on Feed report showed November placements 103.6 percent of last year and marketings 105.3 percent of one year ago. November had one more business day than 2021. The Dec.1 on-feed total was 11.985 million head, down fractionally year over year at 99.6 percent of last year. The December report was well anticipated and should not provoke a large market reaction after the long…