News

Cattle placements slow down

The USDA says placements of cattle into feedlots have slowed, with the February 2017 total down 1% on the year at 1.694 million head. Placements had been up sharply for three months in a row, so operations likely scaled back in order to keep the offering current.

Marketings were up 4% on the year at 1.648 million head as those cattle placed last fall were sold and the total number of cattle on feed was slightly above a year ago at 10.772 million head.

The numbers were close to many pre-report estimates and generally look neutral for futures trade.