Virginia McGathey breaks down today's livestock market activity as Live Cattle and Feeder Cattle futures faced sharp selling pressure. Live Cattle futures fell following announcements regarding beef import quotas and overextended market conditions, with October contracts dropping to 213.50. Feeder Cattle futures also saw steep declines driven by a $35 cash price drop over the past month and net selling by commercial traders. Meanwhile, Lean Hog futures held steady, supported by higher cash and cutout values despite broader weakness in the beef complex.