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Cattle on Feed Report                 06/22 14:00

By John A. Harrington
DTN Livestock Analyst

                        USDA Actual  Average Guess      Range
Cattle on Feed:
On Feed June 1             104.0%        103.5%     103.0-104.5%
Placed in May              100.0%         96.0%      92.0-101.0%
Marketed in May            105.0%        105.0%     104.0-105.5%

The June 1 on-feed report looks somewhat negative thanks to a 
larger-than-expected placement activity in May. Indeed, last 
year's in-movement was historically large (the largest since 
2007). So the fact that feedlots equaled that effort last month 
is fairly impressive.

Look for cattle futures to open lower on Monday, possibly as 
much as 100-200 points. Lower feedlot sales developing Friday 
afternoon will not help the general psychology.

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


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