U.S. feedlots added 3.1 percent fewer cattle last month than they did a year earlier, as the total inventory slumped to the second-lowest for Dec. 1 on record, the Department of Agriculture said.
Feedlots placed 1.882 million head of cattle in their herds last month, down from 1.943 million in November 2012, the USDA said today in a report released in Washington. Fourteen analysts surveyed by Bloomberg News said that placements would be little changed, based on the average estimate. Forecasts ranged from an increase of 4.2 percent to a drop of 5 percent.
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