Oliver Sloup from Blue Line Futures analyzes price action across livestock markets following a mixed trading session. October Live Cattle futures settled 57 cents lower at 226.32, while September Feeder Cattle futures gained 67 cents to settle at 345.25. Lean Hogs futures also saw pressure, with October contracts sliding 35 cents to 83.32. Wholesale boxed beef prices softened, with Choice cuts down $1.04 to $370.38, while USDA daily slaughter started the week at 96,000 head. Sloup highlights ongoing long liquidation in cattle futures, with the latest Commitment of Traders report showing managed money net long positions falling by 2,000 contracts to near 65,000, reaching the lowest level in two years.