Nov 14 (Reuters) - CME live cattle futures edged up on Thursday in anticipation of cash trading at a minimum of steady, compared with last week, traders said.

* Investors expect a turnaround in wholesale beef prices as grocers buy beef to feature after the U.S. Thanksgiving Day holiday.

* Expectations for tighter cattle supplies in the coming months encouraged deferred-month CME live cattle futures buyers.

* Thursday's U.S. Department of Agriculture's weekly beef and pork export data will be delayed until Friday due to last Monday's U.S. Veteran's Day holiday.

LIVE CATTLE - At 8:50 a.m. CST (1450 GMT), December LCZ3 was up 0.525 cent at 133.275 cents per lb. February LCG4 was at 134.900 cents, 0.400 cent higher.

* Cash cattle bids surfaced in Texas and Kansas at mostly $129 per cwt against asking prices of $133 and higher from sellers, feedlot sources said. Cash-basis cattle last week traded at mainly $131.

* Recent futures advances and the needs of some packers for supplies for next week's production can underpin cash prices, a trader said.

* He added that possible post-Thanksgiving holiday beef buying by retailers might send cash prices higher.

* Another trader countered that processors may limit cash spending by cutting back slaughter rates. The move could help them recoup lost margins and lift wholesale beef values.

* FEEDER CATTLE - November FCX3 was up 0.400 cent to 165.250 cents per lb, while January FCF4 gained 0.600 cent at 165.250 cents.

* CME November feeder cattle was led by the exchange's feeder cattle index at 165.50 cents. The contract will expire on Nov. 21.

* Feeder cattle futures also drew support from the firmer CME live cattle market.

LEAN HOGS - December LHZ3 was at 85.875 cents per lb, 0.500 cent lower, while February LHG4 was down 0.600 cent at 90.175 cents.

* CME hogs fell following late Wednesday's weaker cash prices and steep wholesale pork price drop, led by sharply lower ham and pork belly costs, traders said.

* Hogs weights are at record highs as less costly corn and cooler weather help pigs gain weight quickly, an analyst said. Increased hog weights are adding more tonnage to the retailer sector, he said.

* Also, ham demand is about to peak soon as supermarkets and other end-users buy hand-to-mouth before Thanksgiving, he said.

(Reporting by Theopolis Waters in Chicago; Editing by Jeffrey Benkoe)

((theopolis.waters@thomsonreuters.com)(1-312-408-8725)) 

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Keywords: MARKETS LIVESTOCK/CME