Live Cattle futures rally while Lean Hog futures slide.

Live Cattle and Feeder Cattle futures ended the week with impressive moves higher, with the December Live Cattle contract settling up $3.50 and the November Feeder Cattle contract rallying $7.07 to hit its highest weekly close since early July. The upside momentum in cattle markets came despite softer cutout values and slightly lower year-over-year weekly slaughter totals. Meanwhile, Lean Hog futures continued to face headwinds, sliding to new contract lows amid weakness in the cutout and cash index. Both cattle and hog markets saw a noticeable drop in implied volatility levels to end the week.