The source IP address is on
link local address space.
My guess is there is a box on your network that is set up as a dhcp client. It is not getting an address issued by a dhcp server, so it gets assigned the address in 169.254/16 space that you see. Then it seems to be broadcasting packets to the whole subnet.
You might need to talk to your network staff and provide that information. They should be able to identify a switch / port where the traffic is coming from so that the offender can be pinpointed.