USDA Cattle on Feed seen as Neutral for Live Cattle Futures

April live cattle opened a bit lower on Monday. Last check April cattle was trading at 148.32, down 0.25 and June Live cattle was trading at 141.17, down 0.65. Market talk shows Friday's Cattle on Feed was fairly neutral considering the decline in Cattle Futures on Friday. Placements for the month of January were 88.7% of last year versus estimates of 87.3%. Marketings were 90.9% a bit less than estimates. February 1st cattle-on-feed was 100.3% a bit higher that estimates. Friday's USDA cold storage report showed that total frozen beef stocks January 31st were up over 14 % from last year and over 10 % on the month at 490.9 million pounds. Beef production last week was 427.2 million pounds, down 0.3% from last year. USDA reported last week that Weekly U.S. beef export sales were 10,800 tonnes