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US feedlot placements in July were 101.8% of the prior year despite falling feeder supplies outside feedlots. Drought is forcing cattle to market sooner than planned, and Oklahoma auction volumes rose 10.9% over six weeks.
Lightweight placements rose while heavier placements fell.
Early marketing of lighter cattle adds near-term supply to the market, which pressures feeder prices. Tighter total feeder supplies later in the year could offset this over time.
beefmagazine.comDerrell PeelSep 1, 2022After 126 past bearish report events, Feeder Cattle moved a median +0.1% over 5 sessions (52% higher; middle half -1.3% to +2.0%), and +0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
