By Kelsey Gee 
 

CHICAGO--U.S. cattle futures rose on Thursday, after posting sharp losses earlier in the week, as traders rethink bets on weakening demand in the weeks ahead.

October cattle futures recently advanced 1.025 cent, or 0.7%, to $1.4225 a pound at the Chicago Mercantile Exchange. Live-cattle futures for December picked up 1.075 cent to $1.4440 a pound. Feeder-cattle futures for September were up 2.15 cents to $2.0290 a pound.

Wholesale-beef prices have edged narrowly lower in the past week, a potential sign of weaker end-user demand. This allowed beef packers last week and early this week to push prices paid to producers in the cash markets sharply lower, with most owners fetching between $1.41 and $1.47 a pound for their cattle.

However, after futures slid to the lowest levels in 15 months on Wednesday, analysts suspect bargain buying is likely to give demand a boost, buoying futures on Thursday.

Although "cash trade was disappointing" for market participants betting on higher prices, "traders probably overdid it to the downside" with selling in the futures market, said Ryan Turner, a broker with INTL FC Stone in Kansas City, Mo.

Outside markets were also giving cattle a boost, as commodities ranging from the energy markets to soybeans trade narrowly higher.

The hog market, meanwhile, is slipping after rallying during the previous sessions. October hog futures were recently down 0.5 cent, or 0.7%, to 69.275 cents a pound. December futures shed 0.6 cent at 64.075 cents a pound.

Write to Kelsey Gee at kelsey.gee@wsj.com

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(END) Dow Jones Newswires

September 03, 2015 12:18 ET (16:18 GMT)