The cattle markets are on a slight decline, but it's still better than last year.
The fed cattle and beef markets are seeing unprecedented prices, especially for this time in the year.
More light calves are entering feedlots, but overall there are fewer cattle on feed.
The cattle markets are starting to tail off from their summer highs as spring calves are being weaned.
Retail beef reached new record highs last month.
The cattle markets have hit the brakes a bit as the peak of grilling season arrives.
Strong placements were expected ahead of the cattle on feed report as analyst ranges were from 3.6 to 13.1 percent above a year ago.
The cash feeder cattle market has cooled considerably the past month and a half as has the futures market.