DTN Early Word Livestock Comments 09/09 06:11

DTN Early Word Livestock Comments 09/09 06:11 Disappointing Cash Keeps Futures Choppy The steam was taken out of the cattle market Thursday as cash trade was disappointing. Packers played their cards right and were able to buy cattle at steady to lower prices. Hogs just cannot get a break without better cash and cutouts. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $191.35 -$1.93* Hogs: Steady Futures: Mixed Lean Equiv: $110.20 -$0.71** *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: Cash cattle traded Thursday, but they traded steady to $2.00 lower. Northern dressed cattle suffered the loss while Southern cattle traded steady. There were sufficient cattle to be found and feedlots were willing to move them rather than feed them. Futures held well despite the disappointment of cash. There remains optimism the current heavy volume of cattle will decrease by the end of October with traders keeping premium in the market. Of course, cash potential will be determined by demand. Boxed beef was mixed Thursday with choice down $3.33 and select down $1.33. Feeder cattle showed moderate gains with traders finding little to sink their teeth into. With corn showing strength overnight, feeder futures may struggle Friday.