Chicago | Reuters — Chicago Mercantile Exchange cattle futures fell on Thursday on a round of profit-taking after three straight days of gains, traders said.
Signs of weakness in the cash market also weighed on cattle futures.
The front-month feeder cattle contract was setting back from its highest since November 2015.
Hog futures fell on technical selling.
The most-active August live cattle futures dropped 1.475 cents to settle at 135.4 cents/lb., falling below its 100-day and 200-day moving averages during the session (all figures US$).
CME August feeder cattle fell 1.9 cents to close at 178.9 cents/lb. The contract dropped below the high end of its 20-day Bollinger range.
August lean hogs settled 0.925 cent lower at 109.575 cents/lb. after hitting its highest since April 19 a day earlier.
The contract hit technical resistance at its 100-day moving average.
The U.S. Agriculture Department said on Thursday morning that weekly export sales of beef totaled 9,200 tonnes, down from 11,000 the prior week.
Pork export sales in the week ended July 7 fell to 18,300 tonnes from 31,200 tonnes, USDA said.
— Reporting for Reuters by Mark Weinraub in Chicago.
