LIVESTOCK-CME cattle, hog futures end lower as Wall Street dips

By Julie Ingwersen

CHICAGO, Nov 4 (Reuters) - Cattle futures on the Chicago Mercantile Exchange fell on Tuesday on technical selling and declines on Wall Street that fueled worries about slowing consumer beef demand, brokers said.

Traders also cited prospects for reopening the U.S. border to Mexican cattle, even though U.S. Agriculture Secretary Brooke Rollins said she was not yet ready to make a move while Mexico battles an outbreak of the New World screwworm parasite.

Rollins told Reuters on Monday that President Donald Trump was "very focused" on reopening the border, which has been largely closed to Mexican livestock since May.

CME December live cattle futures LCZ25 settled down 4.425 cents at 227.775 cents per pound. January feeder cattle FCF26 ended down 7.300 cents at 329.225 cents per pound.

Broad weakness on Wall Street, crude oil and metals set the tone. All three U.S. stock indexes fell as big banks warned that equity markets could be headed for a drawdown, reflecting mounting concerns over stretched valuations.

"With the stock market going down, it tends to bleed into the livestock a little bit," said Sherman Newlin, an analyst for Risk Management Commodities.

The U.S. Department of Agriculture priced choice cuts of beef on Tuesday afternoon at $377.58 per cwt, down $1.67 from Monday, although select cuts rose $1.32 at $361.25 per cwt.

Market players continued to monitor headlines about U.S. food aid, which could affect demand for meat. Trump said on Tuesday that food assistance for millions of Americans will be given out only when the federal government shutdown ends, while lawyers for cities and nonprofits urged a federal judge to force the White House to fully fund the benefits.

In the hog market, CME December lean hog futures LHZ25 settled down 0.675 cent at 79.925 cents per pound, and February hogs LHG26 ended down 1.275 cents at 80.925 cents.

The USDA priced pork carcasses at $99.17 per cwt on Tuesday afternoon, down $2.48 from Monday.