Livestock markets faced pressure across the board as technical levels were tested. December Live Cattle futures traded lower, eyeing a chart gap near $217.50, even as boxed beef spreads narrowed and Monday's slaughter paced behind last year's figures. November Feeder Cattle futures dropped $3.50 to $4.50, testing the 100-day moving average at $334.50. Meanwhile, December Lean Hog futures held below the $60 level as the fundamental cash market weighed on prices and funds extended their record net short position.
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