COF Report: Neutral to Prices

Posted on 03/09/2017 10:22 AM
USDA's Cattle on Feed Report came in about as expected. The June 1 feedlot inventory at 10.799 million head was right in line with expectations, as were May marketings. May placements were slightly higher than the average pre-report estimate at 10% above year-ago, but well within the range of expectations. As a result, the report gets ...