CHICAGO Oct 13 CME Mercantile Exchange live
cattle futures on Thursday edged downward, pressured by
Wednesday's lower cash and wholesale beef prices, said traders.
* They said futures' discounts to those early-week prices
for slaughter-ready, or cash, values minimized market losses.
* At 09:38 a.m. CDT (1438 GMT) October was 0.650
cent per pound lower at 96.100 cents, and December down
0.250 to 97.750 cents.
* So far, packers in the northern U.S. Plains paid $98 to
$99 per cwt for cash cattle, according to U.S. Department of
Agriculture. Their data includes auctions at the
newly-established Fed Cattle Exchange.
* Last week, cash cattle in the Plains fetched $101 to $103
* Ample meat and cattle supplies remain a drag on cash
prices, said analysts and traders. They said that at least one
processor is scheduled to be closed on Thursday or Friday for
* An analyst said southern U.S. meat demand has suffered in
the wake of Hurricane Matthew. And grocers generally are buying
small amounts of beef to round out meat cases while focusing
more on October Pork Month, he added.
* USDA's weekly meat export report for beef and pork is
delayed until Friday because of the Columbus Day holiday.
FEEDER CATTLE - October was 0.925 cent per pound
lower at 121.075 cents, on residual selling and weaker live
LEAN HOGS - October, which will expire on Friday,
was up 0.300 cent per pound to 52.675 cents. Most-actively
traded December was 0.825 cent higher at 44.875 cents.
* CME lean hog futures were supported by Wednesday's firmer
cash and wholesale pork prices, said traders.
* A few packers are filling gaps in inventory heading into
the weekend, while wholesale pork sales remain decent in the
midst of Pork Month, a trader said.
* Smithfield Foods resumed partial operations on
Thursday at its N.C. plants and, running at full capacity at the
Virginia facility, as they recover from the impact of Hurricane
Matthew, a company spokeswoman said on Thursday.
* "They (Smithfield) have a long way to go in cleaning up
the backlog of hogs there from the storm. It will be interesting
to see whether they're able to go big on Saturday to makeup the
some of that downtime," the trader said.
(Reporting by Theopolis Waters in Chicago)