U.S. Feedlots Placed 10.4% Fewer Cattle in July as Numbers Fell

U.S. feedlots reduced the number of cattle added to their herds by 10.4 percent in July amid tight animal supplies after the worst drought since the 1930s spurred higher feed costs.

About 1.722 million head of cattle were moved into feedlots last month, down from 1.922 million in July 2012, the U.S. Department of Agriculture said today in a report. Thirteen analysts surveyed by Bloomberg News projected a 1.6 percent drop, on average. The feedlot herd totaled about 10 million as of Aug. 1, down 5.9 percent from a year earlier. Analysts expected a 4.2 percent slump. (more)

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