The number of cattle being fed for slaughter fell.

As of May 1, the number of cattle being readied for market in the seven major beef states totaled 7.08 million head, down 6% from a year ago and 4% below two years ago, the Agriculture Department said. Feedlot inventories were down from year-earlier levels in all states except Kansas and Nebraska. Marketings of “fed” cattle in April totaled 1.62 million head, an increase of 1% from a year earlier and 6% more than two years ago, the report said.