1116 ET - Live cattle futures resume some of the selling pressure that followed President Trump's announcement Friday that the U.S. would allow imports of 300,000 metric tons of beef with no out of quota tariffs in a bid to bring down consumer prices. The USDA on Friday reported 11.1 million cattle and calves on feed for slaughter as of Aug. 1, up 2% from a year earlier, while placements on feedlots in July were down 11% on the year at 1.42 million head. July marketings of fed cattle fell 7% to 1.62 million head. Live cattle on CME are down 1.4%. Lean hogs edge up 0.1%.