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Live cattle futures were down Tuesday on technical trading and spread trading. For instance, August live cattle moved down to within 10 cents of the low made on April 23 before moving off the lows up to the 5-day moving average, according to ADM Investor Services. Choice beef was higher on Tuesday morning and higher than select which is a positive indicator for beef prices. Choice has started to move up faster than select, going into July 4th where hamburgers go for the grill and when stores will have specials for 80/20 beef blends. Increasing beef imports are likely keeping select from larger move higher. Cattle not coming from Mexico are being replaced with beef imported to the U.S. from Mexico, analysts with ADM Investor Services reported.





