Live cattle are sharply lower with limit down moves in feeders under expanded limits on Monday morning. Brad Kooima says now the focus is on the possibility of the U.S. dropping the 50% additional tariffs on beef imports.

Soybean farmers in Brazil capitalise on U.S tariffs, selling soybeans to the Chinese market. (AP/Thiago Mostazo, Maycron Abade and Obed Lamy)

US President Donald Trump has lowered tariffs on Chinese imports by 10 percent and said he is likely to sign a trade deal with Beijing "pretty soon", media reports said.