Livestock markets faced heavy early pressure, but Live Cattle and Feeder Cattle futures managed significant rebounds to close just slightly lower. Over in the pork complex, Lean Hog futures marked their ninth consecutive lower close. Weakness in the session was partially driven by profit-taking ahead of the monthly Cattle on Feed report and confusion over a potential border reopening for livestock imports. The USDA clarified Wednesday evening that it has not set a date to resume imports from Mexico, emphasizing that New World screwworm risks must be adequately mitigated first. Ahead of the afternoon report, analysts expect cattle on feed at 99.8%, with placements estimated at 93.5% and marketings at 93.7%.