Live and Feeder Cattle Reports

Expanded trading limits for live cattle and feeder cattle went into effect on Monday, and although limits have not been tested this week, live cattle and feeder cattle continue under pressure.

 We look at August live cattle, major support now. We think coming in around 2.33, 2.32. August has hit near that level twice since the 1st of April and always bounced back, so we would watch a 2.32 and a quarter from back on March 27th as major support. August feeders look oversold in our view. August dropped below 3.42, first time this week since back on March 20^th, 3.35, the next major support.

Audio Reporting by Mark Oppold for Southeast AgNet.