Also, live hog and pork bellies' lower settlement was partly owed to cattle-complex losses.

Weakness following Wednesday's live cattle trade, boxed beef's erosion overnight and cautious buyers awaiting this week's cash trade set into motion a chain of events that later left pitsters shaking their heads.

Even in the midst of early declines, bulls were optimistic about a comeback based on ideas for steady-to-firm cash business this week. That optimism quickly faded after June filled Monday's chart gap, and June and July subsequently fell through key moving average support floors.

However, spot-June live cattle selling halted briefly before resuming its downtrend that ultimately led to a three-month low. August stopped shy of the 100-day moving average support before the close.

"I don't know why we were where we were, but it's somewhere I don't want to be," a broker said. "There were a couple of guys who tried to talk up the Canadian mad-cow deal, but that had nothing to do with what we went through today."

Source: FXSTREET