The most recent USDA reports show 10 million head are headed for the slaughter market, as of Aug. 1, 2013. This number is down 6% from the previous year.
July placements are also down 10% for a total of 1.72 million head in feedlots. Marketings of fed cattle during July totaled 2.00 million, 4.5% above 2012 and very close to trade expectations.
Lower placements suggest an even larger first quarter 2014 marketing hole.
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