Oliver Sloup breaks down a strong week for cattle markets, with June Live Cattle futures posting new contract highs and settling at 249.20. May Feeder Cattle futures also gained ground, pushing toward a key gap level from October. In the cash market, wholesale boxed beef prices remained firm, while the five-area average for live steers held steady. Sloup also notes a dip in implied volatility (CVOL) for both Live and Feeder Cattle, and highlights week-to-date slaughter figures trailing last year's pace by nearly 40,000 head.