USDA Cattle on Feed Report                07/19 14:15

June 1 Cattle on Feed
                      USDA Actual  Average Guess           Range
On Feed July 1           102.0 %         101.8%     100.9-103.2%
Placed in June            98.0 %          97.7%      93.2-105.7%
Marketed in June          97.0 %          95.8%      95.8-98.3 %

The July 1 Cattle on Feed report should be viewed as neutral to 
slightly bearish, according to DTN Livestock Analyst Rick Kment.
With total cattle on feed July 1 was 11.5 million head. This is 
a 2% increase from year ago levels, but generally in line with 
pre-report expectations, according to Kment.
Total placements of cattle in June fell 2% from year ago levels 
at 1.69 million head. This is 1% above the average market 
estimate seen earlier in the week, Kment said. 
"Limited market direction is expected early next week as traders 
will first be able to trade on feed numbers Monday morning," 
Kment said. 
"Results of the semi-annual cattle report, also released Friday, 
showed unchanged levels from a year ago," he added.