Chicago Mercantile Exchange cattle futures rebounded on Friday following a technical selloff, though traders raised questions about consumer demand for beef as grilling season nears its end, reported Reuters.
Traders were also squaring positions ahead of the long Labor Day weekend and the month's end.
CME October live cattle futures rose 2.725 cents to end at 239.65 cents per pound. September feeder cattle rose 2.975 cents to end at 364.775 cents per pound.
A historically low supply of cattle, which has been further constrained by the closure of the US-Mexico border to feeder cattle imports due to the spread of screwworm, fuelled a rally in cattle futures the previous week.
The choice boxed beef cutout value was up $1 at $415.41 per hundredweight, according to USDA data on Friday afternoon. The select beef cutout was up $4.16 at $390 per hundredweight.
CME October lean hogs rose 0.75 cent to settle at 95.025 cents per pound.
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