Friday, January 24, 2020 3:34PM CST
Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 12.0 million head on Jan. 1, 2020. The inventory was 2% above Jan. 1, 2019, USDA NASS reported on Friday.
March corn is down 7 1/2 cents per bushel, March soybeans are down 12 1/2 cents, and March KC wheat is down 8 3/4 cents.
Friday's Cattle on Feed report is expected to be viewed generally neutral as placements, marketings and total cattle on feed came in near expectations. The underlying weakness developing in the hog trade should be closely watched as technical selling could easily develop early in the week.