After a months-long wait for feedlots to “turn the corner” on supplies, recent data is showing the industry could be doing just that, albeit slowly. The 12-month average of feedlot placements peaked in April, with mostly declines since. The expectation is for declining placements to eventually result in more tightened supplies and stronger demand. Another positive indicator, data shows the 12-month average of marketings peaked in June and has been lower in July and August, suggesting peak feedlot production has passed for the year. Ultimately, dropping below the slaughter capacity cap will help stabilize the fed market and provide some much-needed normality. Read more on feedlot updates here.