Most-active CME live cattle futures are down 0.5%, with livestock traders seen as potentially liquidating long holdings. "Another day of lower highs and lower lows gives the impression that some liquidation is taking place," says Naomi Blohm of Total Farm Marketing in a note. "The market seems to have run out of steady bullish information, which is needed for consistent support at these lofty levels," says Blohm. Cattle futures remain historically high, around $2.38 a pound. Lean hog futures are down 1.8% to 96.75 cents a pound. (kirk.maltais@wsj.com)
Dow Jones Newswires
Cattle Down With Traders Seen Liquidating Long Positions — Market Talk
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Most-active CME live cattle futures are down 0.5%, with livestock traders seen as potentially liquidating long holdings. "Another day of lower highs and lower lows gives the impression that some liquidation is taking place," says Naomi Blohm of Total Farm Marketing in a note. "The market seems to h…