DTN Early Word Livestock Comments 12/29 05:54

DTN Early Word Livestock Comments 12/29 05:54 Traders Await Cash Activity Live cattle traders had little interest in moving the market one way or the other even though many anticipate higher cash this week. Feeder cattle held surprisingly well despite strong gains in corn. Hogs followed a similar pattern as live cattle. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $204.63 +$0.06* Hogs: Mixed Futures: Lower Lean Equiv: $96.72 -$2.25* *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: It is surprising that live cattle have been slowly moving higher due to a strong anticipation of higher cash again this week. Some of it might be due to end-of-year positioning by traders. Traders are factoring in higher cash but are not getting overly exuberant over it. Boxed beef has settled down with mixed prices Wednesday. Choice was down $0.63 while select gained $1.64. Slaughter pace continues to remain strong, which should result in packers stepping up to begin trading Thursday and likely at higher prices as feedlots will remain resolved to get more for their cattle.