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Cattle On Feed Report                 02/24 14:05

By John Harrington
DTN Livestock Analyst

                        USDA Actual  Average Guess      Range
Cattle On Feed:
On Feed February 1        101.0%     100.5%         100.0-101.0%
Placed in January         111.0%     110.0%         109.0-112.0%
Marketed in January       110.0%     110.0%         109.5-110.5%

The new feedlot inventory just released looks neutral to 
slightly negative compared with private expectations. Last 
month's placement may have been a bit larger than anticipated.  
Yet, generally speaking, few will be surprised by this set of 
numbers.

Despite the large placement total, the negative reaction of 
futures on Monday could be minimal. With April and June closing 
Friday nearly $9 and $19 below spot April, the bearish 
implications of this report may already be dialed in.

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


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