LIVESTOCK-CME livestock futures slip after short, choppy trading day

By P.J. Huffstutter

CHICAGO, Nov 25 (Reuters) - Cattle futures fell on ashort, choppy day of trading on Friday, as technical trading hadsome contracts up earlier in the session even as corn pricesfirmed, traders said.

CME lean hog futures also eased back.

The Chicago traded livestock markets closed early on Friday,and were closed on Thursday for the Thanksgiving holiday.

Early in the day, live cattle saw support from strongcash cattle trades on Wednesday, traders said, with live cattletrading at $154 per hundredweight (cwt) - up from $152 per cwt aweek ago.

With markets closed on Nov. 24 for Thanksgiving, meatpackers had a short week to buy enough cattle for a full week ofslaughter next week, one trader said.

Boxed beef values were mixed on Friday morning, with choicecuts falling 61-cents to $251.95 per cwt, while select cutsgained $2.60 to $235.93, the U.S. Department of Agriculturesaid.

Both beef and pork packer margins slumped into the red onFriday, according to Denver-based livestock marketing advisoryservice HedgersEdge.com LLC.

Packers slaughtered an estimated 112,000 cattle on Friday,down from 125,000 cattle a week earlier and up from 116,000cattle a year ago, the USDA said in a daily report.

An estimated 465,000 hogs were slaughtered, down from481,000 hogs a week ago and up from 458,000 hogs a year ago.

Most-active CME February live cattle futures settleddown 0.300 cent at 155.125 cents per pound. The nearby Decembercontract fell 0.275 cent to finish at 153.075 cents perpound.

Most-active CME January feeder cattle, meanwhile,closed down 0.950 cent at 178.300 cents per pound.

And most-active CME February lean hogs contractsettled down 0.300 cent at 88.500 cents per pound.(Reporting by P.J. Huffstutter)

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