Cattle inventories are at the lowest levels in decades, according to a recent U.S. Department of Agriculture report, which pegged total cattle inventory at 89.3 million head, or 1.7 percent below a year ago and the lowest figure since 1952. Meanwhile, January’s monthly cattle report showed feedlot inventories at 11.19 million head, down 5.6 percent from a year ago. Cattle slaughter for the first half of 2013 looks to be 4 percent to 5 percent below a year ago. Replacement heifers are ...

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