CHICAGO, Aug 2 (Reuters) - Chicago Mercantile Exchange lean hog futures rose on Monday after four days of falls on market uncertainty in the market after African swine fever (ASF) was discovered last week in the Dominican Republic.
"I think hogs are bouncing back," said Joe Kooima, commodity broker at Kooima Kooima Varilek Trading Inc. "That ASF scare last week was extremely close to home."
The discovery of ASF clouded the outlook for pork exports, with China slowing its purchases of U.S. pork.
CME August lean hog futures added 1.300 cents to 107.500 cents per pound while benchmark October hogs gained 1.475 cents to 89.500 cents per pound.
The cash hog market remains steady, with the CME's lean hog index, a two-day weighted average of cash prices, at $112.08 per hundredweight (cwt).
Meanwhile, hog slaughter declined on Monday, with just 414,000 head processed, down 10.6% versus a week earlier.
Cattle futures firmed slightly, supported by strong cash cattle prices in the Northern U.S. Plains and elevated boxed beef prices.
Benchmark CME October live cattle futures added 0.075 cent to 127.275 cents per pound. CME September feeder cattle futures added 0.175 cent to settle at 161.975 cents per pound.
"We do have somewhat of a firmer undertone, with cash," said Kooima, noting ample supply of market-ready cattle in the Southern U.S. has limited futures gains.
Wholesale beef prices continue last week's climb, with Choice cuts gaining $2.54 to $281.00 per cwt, while select cuts added $4.19 to $263.38 per cwt, according to the U.S. Department of Agriculture.
Daily cattle slaughter was in line with the week prior, with 119,000 head processed, USDA said. (Reporting by Christopher Walljasper; editing by Richard Pullin)
