LIVESTOCK-Cattle futures retreat on profit-taking after 1-month high

By Julie Ingwersen

CHICAGO, Dec 8 (Reuters) - Chicago Mercantile Exchange live cattle futures closed lower on Monday as traders took profits after the benchmark February contract LCG26 notched its highest in nearly a month, analysts said.

Still, tight cattle supplies and wintry weather in the U.S. mid-section continued to underpin the market.

CME February live cattle futures LCG26 settled down 0.475 cent at 226.675 cents per pound, retreating after reaching 228.025 cents, its highest since November 11. January feeder cattle FCF26 ended down 3.400 cents at 335.650 cents per pound.

"The cattle market has had some wild swings," said Don Roose, president of Iowa-based U.S. Commodities. He noted that benchmark live cattle futures plunged about 44 cents per pound between mid-October and late November, after U.S. President Donald Trump said beef prices were too high.

The market bounced back over the last two weeks as traders returned their focus to strong beef demand, scarce cattle and then a round of snow and frigid temperatures in the Upper Midwest, which can limit animals' weight gains and complicate transportation.

Profitable margins for beef packers helped lift cash cattle and futures prices last week, priming the market for Monday's profit-taking setback.

The U.S. Department of Agriculture priced choice cuts of beef at $360.90 per hundredweight, down 30 cents from Friday, while select cuts rose $1.21 at $348.60 per cwt.

Hog futures inched higher. CME February lean hog futures LHG26 settled up 0.125 cent at 82.400 cents per pound but stayed inside of Friday's trading range.

The USDA priced pork carcasses on Monday afternoon at $95.51 per cwt, down 88 cents from Friday.