IPA: //ˈfiːd.lɒt//
KK: /fidˌlɑt/
A piece of land where animals, especially cattle, are kept and fed to gain weight before being sold.
The farmer took his cattle to the feedlot to prepare them for sale.
Feedlot → The word is formed from "feed" (from Old English *fēdan*, meaning to give food) and "lot" (from Old English *lōt*, meaning a piece of land or area). A feedlot is an area where livestock are fed, particularly before slaughter.
Think of 'feeding' animals in a specific 'area' — that's what a feedlot is, a place where animals are given food.