The .338 Federal was introduced in 2006 by Federal and Sako. It is capable of achieving the same muzzle energy as some magnum calibers with less recoil. It also fits in standard length short action rifles and AR-10's without sacrificing magazine capacity. It hits harder than the .308, and shoots flatter than the .358 Winchester, making it an excellent choice for a close to mid-range hunting caliber. One thing to consider when selecting hunting bullets for the .338 Federal is that most bullets available in .338 caliber were designed for higher velocity cartridges. Generally bullets under 200 grains or ones specifically designed for it are your best option for hunting. Check with your bullet manufacturer of choice for their recommendation.
*Not all .338-08 wildcats were chambered the same and may not headspace correctly with factory .338 Federal brass or ammunition.