CHICAGO, Dec 8 (Reuters) - Chicago Mercantile Exchange live cattle futures fell on Wednesday, pressured by technical selling and signs of weakness in the cash markets, traders said.
Hog futures were lower for the fourth day in a row, with the front-month contract sinking to its lowest in 10 months on weak export prospects and a slowing pace of slaughter.
CME February live cattle finished down 0.55 cent at 138.675 cents per pound. The contract turned lower after hitting technical resistance at its 10-day moving average.
CME January feeder cattle dropped 1.625 cents to end at 163.4 cents per lb.
Wholesale boxed beef prices were weaker, with choice cuts falling to $267.24 per cwt, the lowest since July 23, by Wednesday morning, according to U.S. Agriculture Department data. Select cuts were down to $254.58, the lowest since July 27.
"It has been expectedly quiet across the cash cattle markets so far this week," brokerage StoneX said in a note to clients.
CME February lean hogs settled 0.5 cent lower at 76.05 cents per lb. (Reporting by Mark Weinraub; Editing by David Gregorio)
