Feeder Cattle Limit Down

Cattle ended limit down because much higher prices for corn will result in ranchers slaughtering their cattle instead of feeding them. This short-term phenomena will ultimately result in smaller herds and even higher prices by early next year.

from Business Recorder:
CHICAGO: CME feeder cattle plunged by their 3-cent daily trading limit on Friday after corn stocks forecasts from the US Department of Agriculture came in short of expectations, driving corn prices up their 40-cent per bushel limit while boosting feed input costs, analysts and traders said.