DTN Early Word Livestock Comments 12/21 06:11

DTN Early Word Livestock Comments 12/21 06:11 Markets Remain Choppy Boxed beef was a bit of a disappointment with mixed prices being printed at the end of the day. No direction was seen from the cash market keeping traders cautious about direction through the end of the year. Hog traders could not find much to get excited over with the best chance of taking some profit from the market with limited risk was to spread trade by selling nearby months and buying later months. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $194.74 -$0.35* Hogs: Higher Futures: Mixed Lean Equiv: $91.51 -$1.47** *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: Today is the first day of winter and with it brings significant wintery weather in a large part of the country. It is questionable how much influence this may have on cash cattle trade. The storm would have more implications on the welfare of cattle and their rate of gain. No cattle were traded yesterday with some likely taking place today as the holidays approach and buyers would rather take care of business sooner. Boxed beef prices were a bit disappointing as prices were mixed with choice up $1.22 while select declined $4.67. Packer margins have been improving but they may want to preserve the gains and not pay any more than steady cash this week.