USDA Cattle on Feed Report

The U.S. Department of Agriculture ( USDA) released the January 1st Cattle-on-Feed report after the Livestock Futures close on Friday. Placements for December were 92% versus estimates of 96%. Marketings were as expected at 95.1% .The January 1st Cattle-on-Feed data was 100.9% , lower than market participants expected. Market talk is that some support from the data should be seen. Cattle Futures Closed sharply lower on Friday.