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CME Feeder Cattle Plunge Further, Hit Expanded Daily Limits
The cattle complex on the Chicago Mercantile Exchange is deepening its steep losses in early Monday trading, extending Friday’s sharp sell-off that saw all but the nearby live cattle contract end at limit-down.
As of 9:50 a.m. ET, live cattle futures are sliding between $4.00 and $7.70, while most feeder contracts are hitting the expanded daily limit.
Both live ($10.75) and feeder cattle ($13.75) futures will trade under expanded limits today.
The recent downturn likely reflects long liquidation across both live and feeder futures markets as traders digest a range of developments, including the Trump administration’s plan to increase imports...