Live cattle futures lower amid demand concerns

CME October live cattle LCV26 1.7 cents lower to 217.225 cents per pound. CME September feeder cattle futures FCU26 fell 4.225 cents to 329.125 cents per pound.

Analysts expect the U.S. Department of Agriculture's Friday report to show cattle on feed inventory rose from last year, with placements and marketings falling.

The USDA reported wholesale pork carcass values at $98.36 per hundredweight, down 76 cents from a day earlier.

The most actively traded October lean hog contract LHV26 settled 0.775 cent higher to 81.5 cents per pound.

On Wednesday, the U.S. Department of Agriculture priced select cuts of boxed beef at $364.79 per hundredweight, down $1.50 from the previous day, and choice cuts rose $4.13 to $395.28 per cwt.

Last week, Tyson Foods TSN.N said it will close or sell three of its beef plant and packaging operation sites, further shrinking its beef footprint.

"Given Tyson's move, we expect the live animal level of pricing to see a smaller share of wholesale level," said Rich Nelson, analyst at Allendale.

This week, unionized Cargill workers voted to end a labor dispute that halted cattle slaughtering at a facility in Fort Morgan, Colorado, since April, a union official said on Monday.

Chicago Mercantile Exchange live and feeder cattle futures ticked slightly lower on Wednesday as traders evaluated shaky consumer confidence and awaited further details on the cash cattle trade.

July's weak jobs report and dropping consumer confidence have stoked concerns that consumers will shy away from purchasing pricey beef.