Volumes being traded on the CME for livestock are slow out of the gate, with the shortened week in observance of July 4th sending many traders to the sidelines early. Cattle and hogs are both showing weakness, cattle looking to continue to move lower and hogs seemingly unable to maintain a sustained rally. "The market continues to move in fits and starts in trying to end the 3-month downtrend," says the Hightower Report in a note about hog futures. "Upside follow-through has been like pulling teeth and that is an indication the market may not be quite ready to make a significant correction." Lean hogs are down 0.2% early, while live cattle slides 0.1% lower. (kirk.maltais@wsj.com)