Lean hog prices edge higher in mid-week trade - CME

Chicago Mercantile Exchange (CME) live cattle futures ticked up on Wednesday, bouncing back after negative news weighed on futures the previous day, Reuters reported, citing analysts.

Feeder cattle futures also turned higher, having recovered from Monday's limit-down losses, as traders adjusted positions ahead of the US Thanksgiving holiday.

CME February live cattle futures closed up 5.600 cents at 212.925 cents per pound.

January feeder cattle futures settled up 8.050 cents at 315.125 cents per pound.

In CME's lean hog market, February futures finished the session up 2.375 cents at 81.375 cents per pound.

The market has been reeling from blow after blow of negative news since October, said Cassie Fish, analyst and author of the Beef newsletter.

Traders eyed news that China is extending its investigation into beef imports by another two months, giving global suppliers a longer temporary reprieve from potential trade restrictions as the domestic industry battles a supply glut.

Meanwhile, signs of a softening US labour market continued to weigh on cattle futures this week, with traders fearing demand for higher-priced beef could begin to evaporate, according to analysts.

And last week, President Donald Trump cut the 40% tariffs on Brazilian food products, including beef, that he imposed this summer. The duties had been slowing down US imports of the supplies used to make hamburger meat from Brazil, the world's biggest beef exporter.