Virginia McGathey reviews the latest action in livestock markets, starting with steady Live Cattle futures as the August contract maintains a discount to cash. She highlights the upcoming launch of the CME beef trim contract on July 20 as a new volatility management tool for the beef complex. Feeder Cattle futures found support and firmed up, driven by tight supplies and strong demand following end-of-month profit-taking. Finally, Lean Hogs saw a mixed session with futures staying inside yesterday's range as aggressive packer activity met a lagging cutout market.