DTN Early Word Livestock Comments 09/07 06:14

DTN Early Word Livestock Comments 09/07 06:14 Traders Look for Higher Cash The livestock complex uncovered some buying interest Tuesday. Traders are optimistic cash will be higher this week, supported by higher boxed beef to begin the week. Hog futures were higher as cutouts showed promise and slaughter increased. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $193.11 +$0.67* Hogs: Higher Futures: Higher Lean Equiv: $112.09 +$2.08** *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: Due to packers not being very aggressive last week, the anticipation is for them to step up to the plate this week now that the holiday is over. Even though they were not very aggressive last week, they managed to purchase some cattle for deferred delivery. Whether this leaves them less aggressive than anticipated this week or not will likely be seen Wednesday as cash trading is expected to surface. Boxed beef was higher with choice up $1.05 and select up $0.72. Holiday demand is being assessed and retail outlets are restocking shelves. Demand moving forward will be key to price potential.