U.S. Cattle Placements Surge

USDA reported Aug. 19 that the number of cattle placed at U.S. feedlots in July rose 22 per cent from a year ago, as an unprecedented drought in the southern Plains continued to fuel the exodus. It was the biggest increase on record in cattle placements in the month of July, and was well above the 17.3 per cent surge expected by analysts polled by Reuters this week. That pushed the total number of cattle at feedlots up by eight percentage points to 10.5 million head from a year ago, also above trade estimates for an increase of 7.3 per cent.

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