<p><strong>Overview </strong></p>
<p><span>Easterday Ranches, Inc. (a cattle feedyard) made false statements to, and violated position limits established by, a futures exchange regulated by the Commission. Accordingly, the Commission appropriately brought (and today settles) charges against Easterday Ranches of violating provisions of the Commodity Exchange Act (“CEA”) that specifically address these types of misconduct. </span></p>