Chicago Mercantile Exchange (CME) live cattle futures ended mixed on Friday, amid growing uncertainty over packer interest after the US Memorial Day holiday weekend, Reuters reported, citing traders.
Feeder cattle futures turned lower, as traders adjusted their positions ahead of the holiday weekend and prior to a monthly US government report, which analysts say is expected to show a decrease in placements of cattle into feedlots during April compared to a year earlier.
Lean hog futures closed mixed, with nearby contract prices staying at lows not seen since February, as the cash market remained weak.
Live cattle futures traded higher for much of the day, but faded from their session gains on trade concerns that heavy weights on feedlot cattle could weigh on cash cattle prices after the holiday, said independent trader Dan Norcini.