Livestock futures on the CME settled lower, with most-active live cattle futures losing 0.2% to $2.41875 a pound, while lean hogs fell 1.2% to 97 cents a pound. Cattle finish lower as the CME announces a new futures contract offering, announcing beef trim futures. These futures would cover both 50% lean trim and 90% lean trim, which is what meatpackers use to make ground beef. "It signals beef price volatility has become big enough that CME sees demand for a more precise risk-management product beyond live cattle and feeder cattle futures," says Naomi Blohm of Total Farm Marketing in a note. (kirk.maltais@wsj.com)