The Hightower Report said, “Live cattle and feeders closed weaker on Friday, and weekly slaughter was well above the prior week. Live cattle futures are significantly discounted to the cash price, which may begin to bring some bargain hunters if futures continue to sink, although the overall trend does remain lower. Pres. Trump’s announcement that he would be signing a legal order to allow ranchers the ability to process their own meat got a minor negative market reaction Friday. However, drought conditions in southern Plains cattle country will worsen over the next 2 week with very little precipitation expected and very hot temperatures. Ranchers may have to make some tough decisions as feed supplies dwindle and pasture conditions dry up.”