Cattle on Feed report reveals a surprise
For the month of July, feedyard placements came in at 111% of last year and marketings were 99%, with an Aug. 1 cattle on feed total that rounds up to 102% of last year. The placement figure was the big surprise, said Derrell Peel, Oklahoma State University Extension livestock marketing economist.
Many of the cattle placed on feed were lighter weight cattle, leading Peel to believe drought conditions in many areas of the country contributed to the higher-than-expected number. Also, part of it is feedlots are looking ahead and reloading, Peel told the Oklahoma Farm Report.
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