Cattle placements up 3% on year

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The USDA says placements of cattle into feedlots during June were up for the six month in a row.

The placement total was up 3% on the year at 1.5 million head, with most of that heavier weight cattle, allowing for a shorter time to finish. Feed costs were lower than a year ago, while pasture conditions were better.

Marketings were up 9% on the year at 1.9 million head. June 2015 was an all-time low for the month, exaggerating the increase.

The total number of cattle on feed was up 1% to 10.4 million head.

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