(Reuters) — U.S. feedlot cattle supplies as of Aug. 1. were likely down from a year earlier for the 12th straight month as the 2012 drought resulted in fewer cattle available for placement in feedyards now, according to analysts surveyed by Reuters.
The U.S. Agriculture Department will issue its August cattle-on-feed report on Friday, which
will include feedlot supply, placements and marketings.
Because of an expected drop in placements, analysts, on average, forecast the Aug. 1 feedlot cattle supply at 95.8 percent of year ago.
Cattle marketings in July were forecast, on average, at 104.4 percent of a year ago.
On average, analysts expect July placements to be down 98.6 percent from a year earlier at 1.895 million head. Abundant grazing land in the U.S. Plains last month slowed placements as ranchers were able to fatten cattle longer outside of feedlots.
