DTN Early Word Livestock Comments 02/09 06:04

DTN Early Word Livestock Comments 02/09 06:04 WASDE Report May Influence Cattle Trade Live cattle chopped up and down in a fairly narrow trading range with no indication as to the strength of the cash market. Feeder cattle pushed higher regaining the losses of the past three days. Hogs remained extremely strong with a rebound of cash Tuesday. Robin Schmahl DTN Contributing Analyst Cattle: Higher. Futures: Mixed. Live Equiv: $209.00 -$0.97* Hogs: Steady. Futures: Mixed. Lean Equiv: $104.57 -$0.90** *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 futures held Tuesday as traders anticipate stronger cash again this week. The market was not tested sufficiently, leaving traders still guessing. Business is expected to be done Wednesday but probably not until after the World Agricultural Supply and Demand Estimates (WASDE) report is released and feedlots see what grain prices will do. There were some offers surfacing Tuesday in the South at $142 to $143 with nothing else posted. Boxed beef continued to weakness with choice down $1.50 and select down $1.20. Steer and heifer calves are in strong demand with higher prices being paid and lower numbers available.