Cattle placements slightly above year ago levels
The USDA says the placements of cattle into U.S. feedlots in August were slightly above year-ago levels as cattle producers continue to face drought in some major U.S. feeding areas. There was a total of 2.11 million head placed in August. The numbers are slightly above pre-report estimates and the August numbers were drive by higher placements of lightweight cattle.
Marketings for the month were 6% above last year. While the total number of cattle on feed in the U.S. on September 1st slightly above last year, and the second higher September 1 inventory since the series began.
The report, overall, is neutral to markets.