The USDA Cattle on Feed report released after the close Friday was a little negative relative to expectations. The feedlot inventory climbed to 12.1 million head, up 7% from last year and about a point above pre-report estimates. February placements surged 16% above the year-ago level and were three points above expectations. Marketings were up 2% from last year and in line with expectations. Doane economist look for June and August futures to start 15 to 25 points lower Monday in reaction to the report but the bearish placements were widely anticipated so short covering will limit weakness.