LIVESTOCK-Hog, cattle futures rise on bargain buying
CHICAGO, Jan 15 (Reuters) - CME Group live cattle futures rose on Friday on some bargain buying but still posted their first weekly loss in five weeks, traders said.
Bargain buying also supported hog futures, which had posted lower closes in seven of the previous eight sessions.
Signs of weakness in the cash markets kept a lid on the gains.
Chicago Mercantile Exchange (CME) February lean hogs rose 1.625 cents to 67.925 cents per pound.
The contract, which fell 1.1% this week, rose above its 20-day, 30-day, 40-day and 50-day moving averages during the session.
April live cattle futures ended 0.975 cent higher at 118.2 cents per pound, settling above its 30-day, 40-day and 50-day moving averages.
For the week, the contract dropped 0.9%, its biggest weekly loss since the week ended Nov. 5.
March feeder cattle gained 2.45 cents to 135.825 cents. (Reporting by Mark Weinraub; Editing by Andrea Ricci)
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