DTN Early Word Livestock Comments 01/10 06:15

DTN Early Word Livestock Comments 01/10 06:15 Increasing Cattle Weights Troubling Traders had digested most of last week, leaving limited reason to move the market very much Friday. Futures closed mixed for the day and lower for the week. Hog futures came under steady pressure through much of Friday as cash weakness did not sit well with those holding long positions. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $203.47 +$1.80* Hogs: Steady Futures: Mixed Lean Equiv: $92.79 -$3.63** *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: Cattle futures rebounded slightly during the second half of last week but still closed lower for the week. Steady to weaker cash did not bode well for the market. There is a strong chance cash will not be any better and could possibly come under further pressure this week. Packers have been able to purchase cattle for deferred slaughter. Weights are increasing, likely due to reduced slaughter pace. Employee absenteeism is an ongoing problem due to numerous issues. Boxed beef prices closed higher with fewer head being slaughtered and demand remaining strong. Choice cuts increased $3.26 with select up $0.46.