Placental assessment through routine obstetrical ultrasound is often limited to documenting its location and ruling out placenta previa. However, many obstetrical complications originate from abnormal focal or global placental development. Technical difficulties in assessing the placenta as well as a lack of established objective criteria to classify echotexture are barriers to diagnosis of pathology by ultrasound imaging. As a first step towards the development of a computer aided placental assessment tool, we developed a fully automated method for placental segmentation using a convolutional neural network. The network contains a novel layer weighted by automated acoustic shadow detection to recognize artifacts specific to ultrasound. In order to develop a detection algorithm usable in different imaging scenarios, we acquired a dataset containing 1364 fetal ultrasound images from 247 patients acquired over 47 months was taken with different machines, operators, and at a range of gestational ages. Mean Dice coefficients for automated segmentation on the full dataset with and without the acoustic shadow detection layer were 0.92±0.04 and 0.91±0.03 when comparing to manual segmentation. Mean Dice coefficients on the subset of images containing acoustic shadows with and without acoustic shadow detection were 0.87±0.04 and 0.75±0.05. The method requires no user input to tune the detection. The automated placenta segmentation method can serve as a preprocessing step for further image analysis in artificial intelligence methods requiring large scale data processing of placental images.