Live Cattle futures reverse early gains after posting new highs.

The livestock markets opened the new month with a volatile session as Live Cattle and Feeder Cattle futures reversed early gains. June Live Cattle futures reached a new high of 256.66 before settling $1 lower at 253.00. Similarly, August Feeder Cattle futures traded up to 379.45 before closing at 372.17. Lean Hog futures also showed weakness, with the June contract sliding $1. Export demand and slaughter data added to the market narrative. Weekly beef export sales reached 13,800 metric tons, a 10% decrease from the previous week, with South Korea acting as the primary buyer. Additionally, weekly cattle slaughter was reported at 434,000 head, reflecting a year-over-year decline of approximately 32,000 head. Wholesale boxed beef prices remained soft, with Choice cuts down 24 cents.