Cattle Futures - Live Cattle Drop
US - Live cattle closed lower on spillover lean hog bearishness, sporadic CBOT corn advances and forward-spreading into spot-October out of rear contracts. That eased October losses but exerted additional December and February pressure. Also, fund selling developed after October and December fell beneath technical support floors."We tried to ignore them (hogs) for as long as we could, but couldn't help it after a while," a cattle brokerage firm's trader said.
Following fed cattle's active trade last week, beef futures participants had little fundamental leadership to glean from on Monday.
Source: FXSTREET