The USDA released the monthly COF report, which is the number, or percent, of cattle that are being shipped to feedlots.
Over the past 10 years(2001-2010), the U.S. has averaged a 21% increase of feed cattle from July to August. Last year, 2011, was the year of the Southern Plains Drought and rendered an unsurprising 5% increase.
This year as a nation we have experienced some rocky weather activity, such as storms and low water tables, but still managed to produce a higher yield of corn and soybeans. This yield is measured by comparing the amount and quality produced this month a year ago.
This being said, July to August COF only reached a 4.2% increase this year. Only one year has recorded lower numbers in the 16 years COF has been documented. In summary, record lows of cattle on feed are being recorded in a month of higher yield of feed products.
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