CHICAGO, Oct 19 (Reuters) - Chicago Mercantile Exchange live cattle contracts slipped on Wednesday, due to profit-taking after three straight winning sessions and caution ahead of cash prices by Friday, said traders.
* At 09:28 a.m. CDT (1428 GMT) October was down 0.025 cent per pound to 97.725 cents, and December was down 0.250 cent to 98.975 cents.
* Packers have not responded with bids after sellers in the U.S. southern Plains priced slaughter-ready, or cash, cattle at $100 to $102 per cwt, said feedlot sources. Last week, cash cattle brought $97 to $98.
* So far cash cattle at smaller sale barns in the Plains moved at $96 to $100 per cwt, said industry sources.
* Some market participants will get a hint regarding this week’s cash price direction from Wednesday morning’s sale of nearly 14,000 head of cattle at the Fed Cattle Exchange.
* The U.S. Department of Agriculture will issue the monthly Cattle-On-Feed report on Friday at 2 p.m. CDT (1900 GMT).
FEEDER CATTLE - October was 0.525 cent per pound lower at 121.500 cents, on profit-taking and weaker back-month live cattle futures.
LEAN HOGS - December was up 0.150 cent per pound to 41.275 cents, and February was up 0.125 cent to 48.575 cents.
* Bargain buying and short-covering after three consecutive sessions of market losses lifted CME lean hogs, traders said.
* They said futures’ discounts to the exchange’s hog index for Oct. 17 at 52.36 cents provided additional support.
* Tuesdays’ lower cash and wholesale pork prices capped market advances, said traders and analysts.
* The return of East Coast packing plants to full operations after being closed due to Hurricane Matthew come at a time of already abundant supplies, an analyst said.
* From Monday to Tuesday, packers processed 881,000 hogs - 101,000 more than the same period a week ago, according to USDA estimates.
* Midwest hog merchants predict a Saturday kill around 280,000 head, depending on the availability of animals on the East Coast. USDA estimated last Saturday’s slaughter at 309,000 head.
* Iowa/Minnesota hog weights for the week ended Oct. 15 averaged 281.4 pounds, up 0.2 pound from the prior week and down 0.8 pound from a year ago, based on Wednesday’s USDA data.
* Cooler fall temperatures and new-crop corn are conducive for hog weight gain, an analyst said. (Reporting by Theopolis Waters in Chicago)