The Cattle on Feed Report continues to show a decrease in feedlot inventory and placements.
According to the U.S. Department of Agriculture’s National Agricultural Statistics Service, feedlot inventories were down 2% on August 1 compared to the same time last year. Feedyards with a capacity of 1,000 head or more had 9.8 million head on hand as of August 1.
Placements for July saw a 7% slide with just 1.56 million head entering feedlots. This past July saw the fewest placements since the Cattle on Feed Report began in 1996.
Packers saw the same record lows with a 9% drop to 1.79 million head being marketed for slaughter in July.
The complete report can be found here.