Coach Ugo pointed to a slow start that allowed the Reds to gain the upper hand in the match played at Langtree Park, home of St Helens Rugby League.
Indeed, the home team had struck the post twice before Ryan Kent opened the scoring on 28 minutes.
We responded well though, levelled through Will Miller and started the second half on top, only to fall behind again against the run of play when Jordan Rossiter converted from Brad Smith's cross on 53 minutes.
The team that included three debutants by the final whistle - Tom Glover, Shayon Harrison and Ismail Azzaoui - had a late spell of pressure and Cameron Carter-Vickers was inches away from sliding home Shayon's cross in the final seconds.
"The feeling is one of disappointment," said Ugo. "As good as the standard was against Chelsea (a 1-0 win on Monday), I thought we didn't do the basics right against Liverpool.
"We started slowly and allowed them to get a little momentum. They hit the post early and it just seemed like we were caught out.
"We were fortunate to come in at 1-1 but we'd got back into the game and you think 'we've learned from our mistakes' but we were poor in some key moments.
"There are always pleasing parts to take away but we're trying to maintain high standards and the disappointment is that so many fell below those standards."