Cattle On feed Point to Reduced Marketings – 07/22/2023

USDA reported cattle on feed July 1  totaled 11.5 million head compared to 11.7 million head a year ago. Feeder cattle placements over the last six months suggests finished cattle marketings in the July 2023 through December 2023 period will fall short at least 3% of finished cattle sales from the same period in 2022.