DTN Early Word Livestock Comments 11/08 06:22

DTN Early Word Livestock Comments 11/08 06:22 The Exuberance of Monday May Be Tempered on Tuesday Livestock began the week on a very positive note. Live cattle were higher with December leading the charge on optimism. Hogs pushed higher as it seems demand remains strong and slaughter pace picked up again to begin the week. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $195.39 +$1.25* Hogs: Higher Futures: Mixed Lean Equiv: $104.86 +$0.23** *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 traders did not wait around to see what cash might do this week before trading accordingly. Showlists surfaced and were mixed like last week -- higher in Texas and lower in Kansas and Nebraska. It will be interesting to see how aggressive packers will be as they are concerned over ongoing demand yet need to purchase cattle to maintain the strong slaughter pace. Boxed beef was strong Monday with choice up $0.80 and select up $4.02. Feedlots should float some offers Tuesday, which are expected to be $2.00 to $3.00 higher as they expect packers will need to come to the table more aggressively.