DTN Early Word Livestock Comments 11/30 06:08

DTN Early Word Livestock Comments 11/30 06:08 Traders Wait for Cash Live cattle still cannot find aggressive buying to turn the trend higher. Traders want to see higher cash before adding premium. Hog futures continued to struggle, but most of the long liquidation seems to be finished. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $188.25 -$0.45* Hogs: Higher Futures: Mixed Lean Equiv: $93.54 -$3.84** *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: No cash business took place Tuesday as packers have not yet showed interest. They are waiting to see how many cattle are available and what feedlots are asking. It is possible business will be delayed until Thursday due to limited trading interest shown so far. Slaughter pace running as strong as it is will require packers to purchase what they need. However, there is indication that slaughter pace is beginning to slow. Boxed beef prices were mixed again Tuesday with choice up $0.21 and select down $2.71. Feeder cattle are having a difficult time trending higher due to the choppy corn market and the uncertainty over demand early next year.