April live cattle futures, which will be traded until the end of the week were down 0.7% in morning deals, down from the 17-month-highs the contract made on Friday.
The total number of cattle on feedlots was pegged at 10.90m head, up 0.5% year-on-year, and the largest April inventory since 2012.
The supply of cattle that on Apri1 1st had been on feed for more than 120 days calculates to 3.122 million head, 15.4% less than a year ago. The supply of 150 day cattle is down 40%. This is the larges on feed inventory for the month of April since 2012.