<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=0bXXET_1H1wijW600" alt="https://img.particlenews.com/image.php?url=0bXXET_1H1wijW600" width="750" height="500" >CHICAGO, Nov. 12 (Reuters) - Chicago Mercantile Exchange feeder cattle futures firmed on Thursday on technical buying and support from tight supplies and weaker feed corn prices, while live cattle futures were flat to mostly higher. Expectations for steady to possibly higher cash cattle prices at U.S. Plains feedlots this week underpinned the market after two weeks of sharply lower prices. However, traders remained concerned about beef demand amid high inflation and historically lofty prices heading into the Thanksgiving and Christmas holidays, when consumer demand for turkey and hams traditionally rises. “Some of this strength today is from lower corn. And there’s still a short supply of cattle, no doubt about it,” said Don Roose, president of U.S. Commodities. Packer profits have improved in recent weeks, helped by the recent dip in cattle prices. Beef packer margins were estimated at $45.25 per head on Thursday, up from a negative $19.15 per head last week, according to livestock marketing advisory service HedgersEdge. CME December live cattle ended the day down 0.075¢ at 218.900¢ per pound after rising to a 1½-week high earlier in the session. Deferred-month contracts were all higher on the day. January feeder cattle settled 3.875¢ higher at 331.675¢ per pound, buoyed by technical buying as the contract broke through chart resistance at its 50-day moving average. Lean hog futures finished the session mixed after stabilizing earlier in the week following a prolonged drop. Heavy hog supplies and weak pork demand remained an anchor on prices. The closely watched cash pork carcass cutout value fell 20¢ on Thursday to $69.14 per cwt, according to U.S. Department of Agriculture data. That was just 15¢ above a low posted last week which was the weakest cutout value since December 2020. CME December lean hog futures settled down 0.875¢ at 55.150¢ per pound. (Reporting by Karl Plume; Editing by Leroy Leo)</div></body>

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CHICAGO, Nov. 12 (Reuters) - Chicago Mercantile Exchange feeder cattle futures firmed on Thursday on technical buying and support from tight supplies and weaker feed corn prices, while live cattle futures were flat to mostly higher. Expectations for steady to possibly higher cash cattle prices at U.S. Plains feedlots this...

CME Feeder Cattle Rise on Technical Buying, Weaker Corn Prices

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CHICAGO, Nov. 12 (Reuters) - Chicago Mercantile Exchange feeder cattle futures firmed on Thursday on technical buying and support from tight supplies and w

CME Feeder Cattle Rise on Technical Buying, Weaker Corn Prices

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