DTN Early Word Livestock Comments 12/20 06:03

DTN Early Word Livestock Comments 12/20 06:03 Price Uncertainty to Dominate Trading Live cattle were able to hold minor gains through the close yesterday with futures trading in a narrow range. Feeder cattle could not find support even though corn prices were lower. Hogs found no direction after the large increase on Friday. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $195.09 -$1.15* Hogs: Higher Futures: Mixed Lean Equiv: $92.98 -$2.51** *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: Boxed beef showed further strength providing minor support under the market yesterday. However, the uncertainty of cash this week as feedlots hold for no less than steady cash while packers reduce chain speed not only for the holidays, but to improve margin will keep prices choppy. Packers may want to take care of business earlier this week due to the upcoming holiday and the adverse weather that is moving across the country the rest of the week. The resolve of buyers and sellers will be tested this week. Feeder cattle may already be seeing some lighter trading activity develop due to the upcoming holiday period as well as the Cattle of Feed report that will be released on Friday. Support did not result from lower corn prices yesterday as it generally does.