January 7, 2019 / 8:52 PM / a month ago

LIVESTOCK-Cattle futures break losing streak on bargain buying

    By Mark Weinraub
    CHICAGO, Jan 7 (Reuters) - Chicago Mercantile Exchange live
cattle futures         rose 1.2 percent on Monday, rebounding
from five straight sessions of declines on a round of bargain
buying.
    Feeder cattle futures also closed higher         after
sinking to a one-month low during the session while lean hog
futures         eased.
    Cattle also received support from news that the number of
cattle offered for sale was down 6,200 from a week earlier,
which may lend support to cash prices, said Rich Nelson, analyst
at Allendale.
    CME February live cattle         settled up 1.275 cents at
123.200 cents per pound.
    CME March feeder cattle         were up 1.050 cents to
143.875 cents per pound.
    CME February hog futures         settled down 0.050 cent at
61.900 cents per pound.

 (Reporting by Mark Weinraub
Editing by Tom Brown)
  
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