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CME Live Cattle Hit Two-Month Low
USAgNet - 03/20/2018

Chicago Mercantile Exchange live cattle futures fell on Monday for a third straight session, pressured by fund-driven long liquidation and expectations of rising supplies ahead based on USDA's most recent monthly cattle report, traders said.

Declines on Wall Street added to bearish sentiment. The S&P and Nasdaq suffered their worst day in just over five weeks, as concerns over increased regulation for large tech companies was spearheaded by a plunge in Facebook shares.

Weak equity markets can pressure livestock markets as traders worry about a potential decline in consumer demand for pricey cuts of beef, reports Reuters.

April live cattle closed 1.025 cents per pound lower at 120.225 cents, after dipping to 120.125, its lowest level since Jan. 17. June ended 1.600 cents lower at 110.150.

The declines in live cattle futures losses pressured CME feeder cattle futures as well. April feeders ended down 2 cents per pound at 138.200 cents.


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