USA: October lean hog futures end up

Chicago Mercantile Exchange (CME) live and feeder cattle futures ticked higher on Thursday on a spree of bargain buying as industry players believed cattle futures were oversold, Reuters reported, citing analysts. Live and feeder cattle futures had set multiple life-of-contract lows during the previous session and had taken a steep dive on Tuesday. "I don't know if there's anything fundamental driving the market. At the end of summer, volume is light and it doesn't take much to swing the cattle market," Altin Kalo, economist at Steiner Consulting Group, said. Hogs also gained after stronger-than-expected export sales left some investors scrambling to cover short positions. Low corn prices, a key component of livestock feed, have also helped support cattle futures, analysts said. Corn futures have remained under heavy pressure from a major crop tour that is reinforcing expectations for a bumper US crop. Most-active October feeder cattle finished 2.575 cents higher at 234.25 cents ...