Cattle Futures - Live Cattle Complex Lose Ground

US - CME live cattle ended lower on fund selling, sell stops and bear spreading.
calendar icon 27 March 2008
clock icon 1 minute read
Beef futures also began the morning rather unevenly on residual buying versus short-term longs taking profits after futures' runup on Tuesday.

However, buying interest quickly faded due to boxed-beef values' late Tuesday downturn. Spot April and nearby June encountered technical resistance.

And, a few cattle traders pointed to negativity in the equities and financial markets as being psychologically bearish for cattle futures.

Spot April live cattle selling intensified after the contract drifted beneath 10-day moving day support. Also, nearby June dropped to a 14-month low after triggering sell stops along the way.

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