The January Cattle on Feed report released after the close Friday was somewhat negative. December placements were up 5 percent from the year-earlier level compared to expectations for a slight decline. Marketings increased 2 percent but were on the low side of expectations. The January 1 feedlot inventory was unchanged from last year at 11.3 million head. A decline of one half to one point had been anticipated. Futures are likely to be down 25 to 50 points in reaction to the report. However, the market reaction will be influenced heavily by developments in the cash market Friday afternoon. The market seems to be looking for $90 cash cattle in the southern Plains.