December Live Cattle futures closed marginally higher, recovering from its lows to close back above the 100-day moving average, a critical technical support level. The market appears to be consolidating after recent volatility, with the Relative Strength Index correcting from an overbought $3% on October 16 to an oversold 33% on October 22, and is now slightly oversold but more neutral. The domestic supply of beef remains tight. To address this, the US increased its beef import quota from Argentina from 20,000 to 80,000 metric tons. A new trade deal with China could potentially boost US beef exports, possibly offsetting the increased imports. Furthermore, the US-Mexico border remains closed to feeder cattle imports due to the New World screw worm, with no timetable set for reopening, continuing to contribute to the tight US cattle supply situation.