Live Cattle futures declined as volatility dropped.

Cattle futures were mixed, with December Live Cattle futures sliding $1.35 to settle at $227.20, while January Feeder Cattle futures gained $0.32 to $329.15. December Lean Hogs futures lost $0.42. The wholesale box beef report was firm this morning, with Choice cuts $3.10 higher and Select cuts gaining $0.70. The USDA's daily livestock summary showed the five-area average price for live steers steady at $228.70. Daily slaughter for the week started at 113,000 head, in line with last year. CME C-Vol (volatility) for Live Cattle futures dropped $1.55 to $22.76, and Feeder Cattle futures C-Vol was down $1.54 to $24.34, although both remain at relatively elevated levels compared to the last year. Analysts are closely watching the cash market and potential headlines regarding the administration's efforts to lower consumer beef prices.