By Ilan Brat 

CHICAGO--U.S. live-cattle futures finished at a fresh multi-day high Friday, bolstered by stout consumer demand for beef and confidence that cash trade will be steady or higher than the previous week.

Lean-hog futures were mostly lower.

Live-cattle futures rose, pulled up in part by anticipation that cash prices would hold steady or even increase compared with the previous week. Wholesale beef prices have held up better than some people had expected and that has provided some confidence to packers who look likely to maintain or even raise their bids, said Dan Norcini, an independent livestock trader in Coeur d'Alene, Idaho.

Still, he said he expects prices to decline in the coming weeks as feedlots boost supplies by bringing cattle off pasture and into feed yards.

"You should see some weakness in the red-meat complex" going forward, he added.

August live-cattle futures were closed up 1.875 cents, or 1.3%, at $1.46525 a pound on the Chicago Mercantile Exchange, the highest closing price for the front-month contract since Aug. 18. October cattle gained 1.425 cents at $1.43975 a pound. September feeder cattle futures added 2.05 cents at $2.024 a pound.

Lean-hog futures closed mostly lower, pulled down by lower cash prices. Hog and pork production remains well above the previous year, as hog producers have taken advantage of cheaper feed costs to boost herds and pack on pounds. But the increased supply has weighed on futures prices, which are near the lowest level since early this year. Some analysts are concerned that hog output is poised to grow further in the weeks ahead, likely exerting further pressure on prices.

CME October lean hogs were closed down 0.625 cent, or 0.9%, at 66.425 cents a pound. December hogs were flat at 62.05 cents a pound.

Write to Ilan Brat at ilan.brat@wsj.com

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(END) Dow Jones Newswires

August 28, 2015 16:12 ET (20:12 GMT)