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Live Cattle and Feeder Cattle futures dropped aggressively on Friday. Live Cattle filled in a price gap, but Feeders still need to get a little over 2.000 lower to fill in the gap from June 4th. Lean Hogs closed strong last week, after trading lower, into Tuesday’s price range. There’s still a potential “tweezer top” on the chart, but Friday’s trade was strong. Based on Friday’s close, I would expect Cattle weaker and Hogs stronger today. Grains got a war boost on Friday, primarily in the Wheat. Bean Oil was limit up, 3.00, on Friday, because the EPA announced updates to the potential Biofuel mandates. As of this writing, Bean Oil has gapped sharply higher today and is up 3.58. Those mandates for higher consumption are very bullish for Bean oil and will serve to pull Soybeans higher and Soymeal lower. Most markets seem to be reversing Friday’s “war” premiums.