CHICAGO, Dec 16 (Reuters) - CME Group hog futures rallied on Friday, rebounding from a two-month low on a round of end-of-week bargain buying.
Cattle futures also were firm despite concerns about waning demand, traders said.
Cash market strength added support to both hogs and cattle.
CME February lean hogs jumped 4.125 cents to 85.775 cents per pound.
February hogs bottomed out at 81.525 cents on Thursday, their lowest since Oct. 14.
CME benchmark February live cattle rose 0.925 cent to 155.775 cents per pound. February live cattle rose above its 20-day and 40-day moving averages during the session, before consolidating around its five-day moving average.
The spot December live cattle contract settled up 1 cent at 155.05 cents per pound. December live cattle futures expire on Dec. 30.
CME January feeder cattle gained 0.725 cent to 183.775 cents per pound.
Boxed beef prices strengthened on Friday, with choice cuts gaining $8.53 to $262.83 per hundredweight (cwt), while select cuts rose $6.94 to $235.45 per cwt, the U.S. Department of Agriculture said. (Reporting by Mark Weinraub; Editing by Shounak Dasgupta)
