DTN Early Word Livestock Comments 09/17 06:48

DTN Early Word Livestock Comments 09/17 06:48 Hogs Steady, Cattle Lower on Friday Hogs were the star of the livestock complex Thursday with front-month October leading the charge. Live cattle struggled due to lower beef prices while feeder cattle were mixed. Robin Schmahl DTN Contributing Analyst Cattle: Lower Futures: Mixed Live Equiv: $231.66 -$1.67* Hogs: Steady Futures: Higher Lean Equiv: $113.23 +$0.27** * based on formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv. Index has been updated to depict recent changes in live cattle weights and grading percentages.) ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Live cattle could be at risk to fall back to the lows as cash trade Friday most likely will be similar to what was already seen this week along with continued weakness of beef prices. Cash cattle trade was quiet Thursday, which pushed the majority of the business to Friday. Packers will be unwilling to pay more than they already have, which has been steady to $1 lower than last week. Cattle weights suggest feedlots are current, but that may not make any difference due to futures weakness and further declines in boxed beef Thursday. Choice cuts declined $1.82 with select cuts down $3.62. Weekly export sales were good at 15,300 metric tons (MT), but that did not carry enough weight to turn futures higher.