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CME live cattle futures fell to fresh life-of-contract lows on Friday, extending losses for a third session. The October contract traded near 103.275 cents per pound, and choice beef prices had declined to the lowest level since December.
Trading limits were expanded after Thursday's limit-down move.
Weaker cash cattle and wholesale beef prices pulled futures lower, which signals cheaper finished-cattle values for feedlots and reduced feeding margins. The move is largely technical selling on top of weak cash trade.
brecorder.comSep 3, 2016Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Futures hit fresh contract lows on Sept 2 for a third session as boxed beef fell to its lowest since December, extending the selloff.
