Live Cattle futures surge to highest close since August 5.

December Live Cattle futures closed sharply higher, reaching their highest close since August. Cheaper corn feedstock following a negative WASDE report helped spur the market's initial upward momentum. Although technical indicators such as the Relative Strength Index sit near 60%, the market remains below overbought territory. On the fundamental side, seasonal demand has experienced its expected slowdown but remains historically strong heading into the holiday season. Meanwhile, year-over-year slaughter numbers are down over 7%, reinforcing tight animal supplies despite higher slaughter weights.