Cattle futures lower, hogs post modest gains

Live cattle and hog futures both slipped in trading on Tuesday, with some signs that commodity traders were taking profits before the month's end.Live cattle and hog futures both slipped in trading on Tuesday, with some signs that commodity traders were taking profits before the month's end.

On the Chicago Mercantile Exchange, December live cattle futures slipped 0.05 cents to 100.05 cents per pound, while February 2011 futures dropped 0.275 cents to 103 cents per pound. December lean hog futures lost 1.125 cents to 67.55 cents per pound.On the Chicago Mercantile Exchange, December live cattle futures slipped 0.05 cents to 100.05 cents per pound, while February 2011 futures dropped 0.275 cents to 103 cents per pound. December lean hog futures lost 1.125 cents to 67.55 cents per pound.

The estimated cattle slaughter number arrived yesterday, coming in at 130,000 head. That brings the week's total to 260,000, up 1,000 from last week and up 11,000 from the same period a year ago.The estimated cattle slaughter number arrived yesterday, coming in at 130,000 head. That brings the week's total to 260,000, up 1,000 from last week and up 11,000 from the same period a year ago.

Grain futures will also likely have an impact on the livestock futures market going forward, particularly corn, which provides much of the feed for American animals. Comex December corn futures lost 6 and 3/4 cents to trade at 564 and 1/4 cents per bushel. March 2011 corn futures also slipped 6 and 3/4 cents, to 577 and 1/5 cents per bushel.Grain futures will also likely have an impact on the livestock futures market going forward, particularly corn, which provides much of the feed for American animals. Comex December corn futures lost 6 and 3/4 cents to trade at 564 and 1/4 cents per bushel. March 2011 corn futures also slipped 6 and 3/4 cents, to 577 and 1/5 cents per bushel.