Placements of cattle into U.S. feedlots fell 8% from July 2022 to July 2023.
The USDA says the monthly placements total was 1.618 million head, with that year-to-year decline tied to lower feed prices, better pasture conditions, and generally tighter numbers after aggressive marketings earlier in this year. That decrease was despite heavy U.S. feeder cattle imports from Mexico boosting supplies. These cattle will mostly head to market during the first quarter of 2024.
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