CHICAGO, March 18 (Reuters) - Chicago Mercantile Exchange (CME) live cattle futures closed higher on Monday, supported by rising wholesale beef prices and follow-through strength from last week's firm cash cattle market, traders said.
CME April live cattle futures settled up 1.325 cents at 188.575 cents per pound, with the June contract up 1.800 cents at 185.400 cents. CME April feeder cattle rose 2.975 cents to finish at 255.100 cents per pound.
The U.S. Department of Agriculture (USDA) reported the choice boxed beef cutout on Monday afternoon at $313.33 per hundredweight (cwt), up $1.43 from Friday and the highest reading since Sept. 6.
Cash cattle traded as high as $186 per cwt last week in the southern Plains, up about $2 from the previous week.
CME lean hog futures closed mostly higher on Monday, but the front April contract fell 0.100 cent to settle at 86.825 cents per pound while staying inside of Friday's trading range. Most-active June hogs rose 0.550 cent to end at 103.025 cents, after posting a life-of-contract high at 103.475 cents.
Cash hog prices continue to tick higher, supporting futures. The CME's Lean Hog Index, a two-day weighted average of cash prices, rose to 82.34 cents per pound, its highest reading since mid-October.
Wholesale pork prices eased after firming on Friday. The USDA priced the pork carcass cutout late Monday at $93.16 per cwt, down 31 cents from Friday.
(Reporting by Julie Ingwersen; Editing by Rashmi Aich)
