The USDA says the most recent cattle on feed numbers were close to pre-report expectations, but do indicate some impact from drought in parts of the Plains and Midwest.
Placements into feedlots during June were down 7% on the year at 1.67 million head, with more than half of placements weighing less than 800 pounds, which will either be marketed as lighter weight cattle putting less beef on the market or push back marketings entirely.
