Aided and abetted by the drought, feedlots put together another month of large placements in July. July placements were 101.8 percent of last year, despite growing indications that feeder supplies are declining. July 1 estimated feeder supplies outside of feedlots were down 2.7 percent year over year. Drought continues to force cattle to market sooner than planned. Oklahoma auction volumes of feeder cattle for the past six weeks are up 10.9 percent, consistent with the unexpectedly large placements in July.
July…
