LIVESTOCK-CME cattle slightly higher as traders weigh demand

CHICAGO, March 26 (Reuters) - Chicago Mercantile Exchange live and feeder cattle futures ticked higher on Thursday as traders continued to eye whether consumers will push back against high beef prices, analysts said.

An ongoing strike at the JBS meatpacking plant in Greeley, Colorado, has largely been priced into the market but has provided a ceiling to prices.

CME June live cattle LCM26 settled 0.95 cent higher to 234.80 cents per pound. CME April feeders FCJ26 finished 1.725 cents higher at 355.075 cents per pound.

The U.S. Department of Agriculture reported on Thursday afternoon that choice cuts of boxed beef fell $1.84 to $389.85 per hundredweight (cwt), and select cuts fell $3.83 to $391.66 per cwt.

"The focus is on the demand discussion and whether we'll see consumer pushback to high gas prices. We're not seeing massive consumer pushback yet, but it's something we'll watch," said Rich Nelson, analyst at Allendale.

Consumers often pull back on purchasing beef, typically the priciest meat in grocery stores and restaurants, when they are feeling financially pinched.

The U.S. Department of Agriculture's hogs and pigs report released after the close of trade showed the total hog herd was roughly the same as the previous year, while analysts surveyed by Reuters on average had expected the government to show a slightly larger herd, at 100.9% of a year ago.

"It was moderately supportive. We were concerned that hog slaughter would be 2% over last year, but now it's only a minimal increase from last year," Nelson said.

Hog futures were nearly unchanged.

CME June lean hog futures LHM26 ended up 0.175 cent to end at 104.30 cents per pound.