The number of cattle in feedlots declined to nearly 11.6 million head in May, down 1% from a year ago, according to USDA's latest Cattle on Feed report. 

The number of cattle placed in feedlots during April was down 6% year over year. 

Texas has the largest number on feed with 2.84 million head, followed by Nebraska with 2.54 million, Kansas with 2.4 million, and 990,000 in Colorado, according to the survey of 17 major cattle feeding states.

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The number of cattle being marketed from feedlots was up 10% year over year to total 1.86 million head.

Although this is the first time in a few months that inventories were below totals from a year ago, USDA Livestock Analyst Michael McConnell said that “when taking into account the two extra slaughter days that were in this month compared to last year, the marketing rates were about the same.”