Hog futures mixed as pork cutout recovers to $101 - CME

Chicago Mercantile Exchange (CME) live cattle futures were mixed and feeder cattle firmed on Friday after choppy trading, as investors assessed data showing the US economy unexpectedly shed jobs in July and sharp downward revisions to job gains in the prior two months, reported Reuters . For much of the day, cattle futures were mixed to lower, even as US stock markets firmed and the labour news tempered expectations of an interest rate hike from the Federal Reserve next month. However, by the end of the session, technical buying and some signs of short-covering sent cattle futures rising, market analysts said. "It's the belief that if 401Ks are doing better, then people's demand for beef will stay strong," said independent livestock trader Dan Norcini. "Cash cattle did trade higher this week, and there may have been some better prices today, which could also have been supportive." Meanwhile, beef wholesale prices firmed Friday morning, an indication of stronger consumer demand. ...