CHICAGO, Nov 11 (Reuters) - Chicago Mercantile Exchange live cattle futures ended mixed on Wednesday, with actively traded nearby contracts pressured by profit taking and technical selling following two sessions of strong gains.
Tight cattle supplies and improving packer margins underpinned the market, while feeder cattle futures posted modest gains as feed corn prices eased.
Before rebounding this week, both markets had been on a two-week slide that dragged prices to multi-month lows, leaving them poised for a technical rebound.
However, worries about consumer demand for high-priced beef and stubbornly high inflation continued to hang over the market.
"It feels more like a technical correction of an oversold market than an absolute turn in the market," said Jim McCormick, chief operating officer at AgMarket.