Live Cattle futures slide as cash rates and export sales drop.

Live Cattle futures experienced a solid slide, with the December contract nearing September lows and the relative strength index dropping to 28%. Cash rates also moved sharply lower, falling $10 over the week. Turbulence in the equity markets added pressure, raising concerns about consumer demand for high-priced beef following large stock market reversals. Meanwhile, weekly export sales remained lackluster at 11,000 metric tons, unchanged from the prior week and down 29% from the four-week average, surprising traders given the lower price environment.