CHICAGO, Nov 23 (Reuters) - Live cattle futures at the
Chicago Mercantile Exchange fell on Wednesday during thin
pre-Thanksgiving trade, though analysts said market fundamentals
The Chicago Board of Trade (CBOT) will be closed on Thursday
for the U.S. Thanksgiving holiday.
Reductions in beef cold storage supplies last month should
be supportive after the Thanksgiving holiday, said Altin Kalo,
economist at Steiner Consulting Group.
"There's more beef out there, but the drawdown in inventory
was quite substantial in October," he said.
Boxed beef values were mixed on Wednesday, with choice cuts
falling $3.22 to $253.41 per cwt, while select cuts gained 33
cents to $234.51, the U.S. Department of Agriculture said.
Most-active CME February live cattle futures eased
1.000 cent to 155.425 cents per pound. Nearby December live
cattle fell 0.450 cent to finish at 153.350 cents per
CME January feeder cattle lost 2.425 cents to 179.250
cents per pound.
CME lean hog futures also eased on Wednesday, though Kalo
noted underlying support in hogs as well.
"The thing that sticks out the most to me is what's going on
with hog carcass weights. Usually you see those moving higher
this time of year, and they're not. that tells you the producer
is pretty current."
The most-active February lean hogs contract settled
1.275 cents lower at 88.800 cents per pound.
(Reporting by Christopher Walljasper;)