Live Cattle futures formed a potential top amid skewed export data.

August Live Cattle futures declined for a sixth consecutive session, failing to find support from higher equities that typically signal strong domestic beef demand. The prolonged weakness has technical traders watching the 250 level closely, as the market tests a potential long-term topping formation following five previous highs in that range since April. Additionally, weekly export sales reported a massive 126.1 thousand metric tons, marking a yearly high. However, the data was heavily skewed by late reporting of big-ticket sales from nations including Chile, Italy, and Japan, reflecting past transactions rather than recent market activity.