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Cattle decline on reduced supermarket demand for beef

from Bloomberg

Cattle futures dropped for the fifth time in six sessions on signs of lower demand for beef from U.S. supermarkets. Hog prices headed for the longest rally in five years. "Beef is fighting against cheaper competing meats at the supermarket counter," said Darrell Holaday, the president of Advance Market Concepts in Wamego, Kan. "Beef demand is a little sluggish." more

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