The Oct COF report came out close to expectations, except for placements, which were above expectations. The report should be neutral to friendly live cattle but negative feeder cattle. There was no sign of heifer retention in the report as steers in feedlots accounted for 60% (up 1% from last year) while heifers made up 40% of the number (down 1% from last year). The numbers for the report were On Feed: 100% (as expected), Placed: 98% (2% above expectations), and Marketed: 102% (as expected).
