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Monthly Cattle Report Termed “Friendly”

Spencer, IA: Government data for the number of cattle in the nation’s feedlots as of August 1st and placements in July were below the average of analysts’ expectations.

The USDA’s Cattle-on-feed report released Friday showed about 10.4 percent fewer placements entered U.S. feedlots in July compared with a year earlier.

The placement number at 1.7 million head was nearly 8 percent below the five-year average and the smallest placements for July since 2008.

The August 1st feedlot inventory was down almost six percent from 2012.