December Live Cattle futures settled $0.60 lower at $226.57, though the next three contract months posted small gains. December Feeder Cattle futures lost $9.55, settling at $324.87, reaching their lowest price in nearly three months. Deferred contracts saw heavier selling pressure. December Lean Hogs futures were lower yet again, losing $0.67 to $80.82. The wholesale box beef report was firm, with cuts $2.12 higher and select cuts $3.69 higher. The five-area average cash market price for live steers was reported at $237.89, slightly softer than last week. Daily slaughter was reported at 105,000 head, about 15,000 head less than the same day last year. CME Live Cattle volatility surged to its highest level since 2021 yesterday but retreated today, while Feeder Cattle volatility continued to climb, hitting its highest read since the spring of 2020. Uncertainty surrounding efforts to lower beef prices for consumers remains a key market catalyst.