Live Cattle and Feeder Cattle Futures Decline as Lean Hogs Rally

October Live Cattle futures moved lower during Wednesday trade, closing down $2.52 to 223.80, marking the first close below the 20-day moving average this month. Support is being monitored between 221.77 and 222.75. On the fundamental side, wholesale boxed beef showed strength with choice cuts rising $2.47 to 373.78 and select cuts up 40 cents. Five-area average live steers were steady at 235 on light volume, with daily slaughter at 108,000 head. September Feeder Cattle futures settled lower at 339.35, while Lean Hogs futures finished higher across all contract months with the October contract settling at 83.55.