Lower placements of feedlot cattle are an indication for an even larger first quarter 2014 marketing hole.
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.
You might also like: