08/26/08 Cattle industry shriking again?

USDA is out with a new survey on the number of cattle and calves in feedlots. GREENE "We do down by about four percent." USDA livestock analyst Joel Greene says the feedlot inventory is a full nine percent below August of two years ago. In July producers only put 1.6 million head into feedlots, the second lowest July number on record. GREENE "Probably indicates that we had some fairly good grass conditions still out there in the country where producers are keeping those cattle on grass longer instead of placing them given the higher feed input costs right now. Eventually those cattle will be coming on which means later in the year heading into the fall expect some of those placements to probably to go up." Prices are holding up. Cattle prices last week about the same as the week before, 98 to 99 dollars per hundred weight. Wholesale beef prices last week were 164 dollars per hundredweight for choice, same as the previous week but down from July's peak 170 dollar range. Voice of Idaho Agriculture Bill Scott