Cattle futures experienced high volatility this week, with the notional value of contracts reaching new highs. The wholesale box beef report was mixed, and the USDA's daily livestock summary showed the five-area average price for live steers at $242.19. The week-to-date slaughter total was 462,000 head, which is 12,000 more than the same period last week. Given the wide ranges in the market, traders have been leaning on the options market to help manage risk.