The Jan COF report was slightly negative cattle as although the On Feed estimate and Marketing estimate were as expected; the Placement estimate was 2% above expectations. For the breakdown between steers and heifers, steers made up 61% of the calves on feed while heifers made up 39%, both down 3% year over year. Estimates for the report are On Feed: 97% (as expected), Placed: 95% (2% above expectations), and Marketing: 102% (as expected).
