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USDA data shows more cattle-on-feed than expected

On Friday, the USDA said that there were 11.812 million head of cattle on feed as of April 1st, up 8.6% from a year ago and more than expected.

March placements were up 5% from a year ago and marketings were down slightly.

Meanwhile, USDA said that there were 67.8 million pounds of frozen pork bellies in storage, down 17% from a year ago. Frozen pork totalled 499.4 million pounds, down 8% from a year ago. June hogs were up .15 at 66.17 ahead of this afternoon's report. July pork bellies were up 1.37 at 79.37.

On Friday, the USDA said that there were 11.812 million head of cattle on feed as of April 1st, up 8.6% from a year ago and more than expected.

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