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Cattle on Feed Report                  11/21 15:05

By John Harrington
DTN Livestock Analyst

                    USDA     Average
                   Actual     Guess        Range
Cattle On Feed:
On Feed November 1  100.0%   100.0%     98.5-101.0%
Placed in October    99.0%    95.5%     90.5-100.0%
Marketed in October  92.0%    92.5%      92.0-96.5%

The November 1 Cattle on Feed report appears to be generally neutral, 
though October placement did exceed trade expectations by several points. 
It's possible the larger than expected October placement could work to 
pressure deferred live cattle contracts early next week, especially given 
how much the 2015 board rallied over the last five sessions.
Yet, generally speaking, this new supply news does not appear to be 
shocking. Chances are traders will continue to focus on the short-term 
appetite of packers. 

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