Daily Livestock Report: COF and placement numbers

June 1 cattle on feed inventories in feedlots with capacities of 1,000 head or greater were up 2% from a year earlier, according to the USDA-National Agricultural Statistical Service (NASS) in a report was released last Friday. This was the highest June 1 inventory since this data series began in 1996. The 2% increase was at the high end of industry expectations. The live cattle futures contract for August delivery moved slightly lower on Monday, testing but finding support near contract lows established prior to release of the report. Click here to read more at DailyLivestockReport.com or view below.