Fewer cattle moved into U.S. feedlots during August than analysts expected. Oklahoma State University livestock economist Derrell Peel says placements were 9.2 percent below a year ago, marking the second consecutive month of sharply lower placements. Marketings declined 3.3 percent.Despite those declines, the September first cattle-on-feed inventory totaled about 11.2 million head, seven-tenths of a percent above last year.

Peel says that larger inventory reflects marketings falling faster than placements and expects the total number of cattle on feed to move below year-ago levels during the coming months. The August placement figure was also below the entire range of analysts' pre-report estimates. Peel says fewer placements today could tighten fed-cattle supplies farther down the road, providing potential support for cattle prices.

By: NATHAN STUEDLEFewer cattle moved into U.S. feedlots during August than analysts expected. Oklahoma State University livestock economist Derrell Peel says placements were 9.2 percent below a year ago, marking the second consecutive month of sharply lower placements. Marketings declined 3.3 percent.Despite those declines, the September first cattle-on-feed inventory totaled about 11.2 million head, seven-tenths of a percent above last year.Peel says that larger inventory reflects marketings falling faster than placements and expects the total number of cattle on feed to move below year-ago levels during the coming months. The August placement figure was also below the entire range of analysts' pre-report estimates. Peel says fewer placements today could tighten fed-cattle supplies farther down the road, providing potential support for cattle prices.

Cattle placements fall below expectations