Live Cattle futures hit new lows as Lean Hogs rebound.

Virginia McGathey analyzes the livestock markets, noting that Live Cattle futures fell to recent lows as boxed beef prices declined and traders awaited the afternoon Cattle on Feed report. Feeder Cattle futures also faced downward pressure amid sluggish cash trade and cautious packer buying. Lean Hogs futures broke from the broader beef complex, firming up on improving demand and short covering as the market looks to establish a near-term floor. CVOL levels highlight varied implied volatility across the livestock products.