Chicago Mercantile Exchange (CME) cattle futures rebounded on technical buying on Friday, though declining wholesale beef prices and weaker cash markets have weighed on prices, Reuters reported, citing analysts.
CME December live cattle rose 1.025 cents to end at 234.50 cents per pound. CME November feeder cattle rose 3.025 cents to end at 355.425 cents per pound.
CME December hogs closed 0.625 cent higher to end at 87.3 cents per pound. A lack of buying interest has weighed on lean hog futures.
Wholesale beef prices have mostly continued a seasonal decline. The US Department of Agriculture (USDA) reported choice cuts of beef fell 95 cents to $362.27 per hundredweight as of Friday afternoon. Select cuts rose by $1.98 to $345.38 per cwt.
Commodity markets may be left with limited USDA data in the coming days after a US government shutdown started on Wednesday, amid political deadlock over short-term funding measures.
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