USDA Cattle On Feed Report             09/23 14:10
By John A. Harrington
DTN Livestock Analyst

                        USDA Actual  Average Guess      Range
Cattle On Feed:
On Feed September 1        101.0%      101.0%      105.5-102.0%
Placed in August           115.0%     *113.0%       108.5-118.0%
Marketed in August         118.0%      117.0%       112.5-118.0%

*Corrected from the Preview.

The September 1 Cattle on Feed report looks generally neutral 
compared with trade expectations. August placement turned out to 
be somewhat larger than expected, but probably not enough to be 
a market mover, per se. Keep in mind that the large percentages 
say more about last year's small totals than significant 
increases in 2016. Also, percentages were somewhat skewed by the 
fact that last month contained two additional business days than 
August 2015. We don't expect to see a significant reaction to 
these numbers when trade resumes on Monday. 

For more Harrington comments, check out 
http://www.feelofthemarket.com