Feeder Cattle Inventory Barely Over 11 Million Head At Start Of August

A two-percent drop year-over-year has feeder cattle numbers barely above 11 million head.  The monthly USDA Cattle On Feed report indicates that 11.03 million head were in the nation’s largest feedlots at the start of August, down 170,000 head from last month.  Placements during July were down eight percent at 1.62 million head, below trade expectations, while marketings total 1.73 million head, down five percent.