Live cattle futures slide to mark third straight week of losses.
Livestock futures faced downward pressure to close out the week, with live cattle logging a third consecutive week of losses and finishing at its lowest level since mid-March. Despite recovering from sharp mid-morning lows, August feeder cattle futures also closed lower at $354.37. Implied volatility firmed across live cattle, feeder cattle, and lean hog markets, with each hitting one-month highs. Meanwhile, the wholesale boxed beef market showed strength with Choice and Select cuts rising, while recent slaughter volumes continue to lag behind last year's pace.
Livestock futures faced downward pressure to close out the week, with live cattle logging a third consecutive week of losses and finishing at its lowest level since mid-March.
Despite recovering from sharp mid-morning lows, August feeder cattle futures also closed lower at $354.37.
Implied volatility firmed across live cattle, feeder cattle, and lean hog markets, with each hitting one-month highs.
Meanwhile, the wholesale boxed beef market showed strength with Choice and Select cuts rising, while recent slaughter volumes continue to lag behind last year's pace.