Firm follow-through pressure is developing in all live cattle and feeder cattle futures, despite a sense of initial market stability early Tuesday morning. The follow-through pressure is equally evident in nearby live cattle and feeder cattle futures, where Monday's losses were most noticeable in feeder cattle futures at the end of the trading day. Prices still remain well above both 40- and 100-day moving averages, but markets have pulled significantly away from all-time highs and that is creating additional market uncertainty. March corn is up 6 3/4 at $4.955 and March soybean meal is up $8.50 at $312.2. The Dow Jones Industrial Average is up 37.49 at 44,459.40.
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