LIVESTOCK-CME cattle gain on pre-weekend positioning, weak dollar

By Heather Schlitz

CHICAGO, April 17 (Reuters) - Chicago Mercantile Exchange cattle futures gained ground on Thursday as stronger beef exports, a weak dollar and position squaring ahead of the long Easter weekend pushed prices higher, analysts said.

Hog futures chopped up and down and ended slightly higher, though relatively weak pork exports provided little support for prices.

CME June live cattle futures LCM25 settled up 2 cents to 204.075 cents per pound and May feeder cattle futures FCK25 ended 2.45 cents higher to 286.85 cents per pound.

In the beef market, choice cuts of boxed beef fell 63 cents to $332.90 per hundredweight (cwt) and select cuts rose $2 to $316.39 per cwt on Thursday afternoon, according to data from the U.S. Department of Agriculture.

The U.S. Department of Agriculture's Thursday cattle on feed report, which was released after the market's close, showed tighter cattle stocks than the same period last year and a higher number of cattle placements than traders had expected.

"Placements were a touch higher, but not enough to be a market mover," Karl Setzer, partner at Consus Ag, said.

Meanwhile, the upcoming start of grilling season has also helped prices as retailers gear up to sell burgers, steaks and bacon.

CME June lean hog futures LHM25 settled up 2.775 cents to 97.95 cents per pound. Hog futures have also increased on steadying equities markets, analysts said.

The USDA priced pork carcasses rose 0.74 cent to $92.78 per cwt.