October Live Cattle futures led the livestock complex lower, dropping $2.65 to settle at $210.95, marking the lowest price for the contract since early December. While wholesale boxed beef prices showed strength, daily slaughter numbers came in 10,000 head fewer than the same day last year. In Feeder Cattle futures, the October contract settled $4.95 lower at $313.32, pushing the RSI below 30 into oversold territory for only the second time this year. Meanwhile, October Lean Hogs futures also experienced downward pressure, sliding $0.67 to $80.45, as market participants monitor whether traditional seasonal support will emerge in September.
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