The August 1st Cattle on Feed report was released on August 19 and showed feedlot inventories declined seasonally but remained above year-ago levels. As James mentioned last week, drought continues to play a key role in the movement of cattle into feedlots this summer. Placements again exceeded expectations driven by large placements of lighter-weight cattle.
Placements of cattle into feedlots during July were up about two percent above July 2021. This was above pre-report expectations and was driven by placements of lighter cattle….
