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CME: Futures Plummet Wednesday

17 January 2013

Live and feeder cattle contracts crashed with triple-digit losses, pressured by aggressive technical selling and signs of cash weakness, according to John Harrington, DTN Livestock Analyst.

Live cattle futures plummeted after midday to end with losses of $1.17 1/2 to $1.90, stated the after the bell recap.

Futures came under heavy pressure after the start of light cash cattle trade in Texas and Kansas at $125 today.

Feeder cattle futures faced pressure much of the day, but selling really picked up after midday. Futures ended just off session lows with losses of $1.25 to $2.15.

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