NEW YORK WHOLESALE

* Cash hog, pork price bull run to fade soon?     * Cattle mull possible cash price, beef demand pressure     * Hogs, cattle cautious as Greek elections loom      By Theopolis Waters	     CHICAGO, June 15 (Reuters) - U.S. hog futures closed sharply lower Friday, despite stock market advances, as livestock markets worried that the recent rise in cash hog and wholesale pork prices could fade.	     Cattle futures slipped Friday amid worries over a seasonal build up in cattle supplies and slowing beef demand. The market  fell 3.23 percent this week, its biggest weekly decline since April 1.	     In spite of gains on Wall Street, Chicago Mercantile Exchange hogs and cattle players exercised caution ahead of Greek elections over the weekend.	     "It think cattle and hogs are still hung up on the fears tied to the outside markets," said Global Commodity Analytics president Mike Zuzolo.	     He said livestock market investors were worried that the European crisis could cause consumers here and abroad to resist spending more for expensive beef and pork cuts.	     CME hogs stumbled from the outset on profit taking after four consecutive days of gains as tight hog supplies pushed up cash hog and wholesale pork prices.	     Spot July hogs closed down 1.500 cents to 93.025 cents. August finished 1.800 cents lower at 91.200 cents. 	     An analyst said fewer hogs are around following unusually warm temperatures last winter that allowed pigs to reach maturity sooner. That caused producers to send hogs to market ahead of schedule, he said, so there are fewer hogs now.	     Others argued hogs are plentiful but packers have intentionally cut slaughter rates to bring their unprofitable margins back in line.	     "My suspicion is a growing number of traders who believe this phenomenon (higher cash hog and pork prices)is not going to last that much longer," said independent hog trader Dan Norcini.	     "As long as packers can get extra money from the cutout they can continue to pay up for hogs, but at what point do grocers say 'no mas' and step away," he said. 	     The U.S. Department of Agriculture quoted the cash hog price in the closely watched Iowa/southern Minnesota market at $100.09 per cwt, up $3.74 from Thursday and the highest since $106.06 on August 19, 2011.	     USDA's average wholesale pork price, or cutout, Friday rose $2.54 per cwt to $94.12 and increased nearly $7 this week.	     The pork packer average margin on Friday was estimated a negative $11.34 per head, compared with a negative $19.15 last week, according to HedgersEdge.	     This week's hog slaughter is estimated at 1.957 million head, 47,000 head less than last week and 20,000 fewer versus a year ago, said USDA.	      	     CAUTION GRIPS CATTLE	     CME live cattle chopped around for most of the session amid positioning before settling weak ahead of weekend shrouded in uncertainty.	     Spot June live cattle closed down 0.200 cent to 116.150 cents per lb. Most actively traded August ended 0.375 cent lower at 116.650 cents.	     Cash cattle prices this week fell $3 to $4 per cwt to $118 to $119. Some worried more losses are in store as cattle supplies build seasonally over next month or so.	     And even though wholesale beef prices continued to march higher, they too could suffer after supermarkets book all they need for Independence Day holiday grilling.	     The government estimated wholesale choice beef at $198 per cwt. It was down 17 cents from Thursday but up $1.06 compared with last week.	     Feeder cattle futures settled weaker on profit taking and modest live cattle market declines.	     August feeder cattle ended down 0.175 cent to 156.025 cents per lb. September dipped 0.075 cent to 157.425 cents.	 	  (Editing by David Gregorio)