DTN Early Word Livestock Comments 12/30 08:44

DTN Early Word Livestock Comments 12/30 08:44 Mixed Activity Due to End of Year Positioning The cattle complex moved higher as there is optimism for continued cash strength. All live cattle contracts pushed to new highs. Feeder cattle held their own. Hogs showed the unwinding of spreads again with February taking the brunt of it. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $204.99 +$0.36* Hogs: Mixed Futures: Lower Lean Equiv: $95.63 -$0.79* *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: Cash business was light with much of the business pushed off until Friday. Packers and feedlots are holding with feedlots wanting more while packers want to hold the line. Some cattle in the South traded higher at an average of $158.31 for over 80% choice. Northern dressed averaged $248.67 delivered. The rest of the business will be done Friday with packers likely not purchasing very many for future delivery. Boxed beef was mixed with choice down $0.55 and select up $3.42. This is the final day to trade the December live cattle contract, which has made an impressing run higher over the past three weeks. February will take over as front month on Tuesday nearly at the same price where December will end. Markets will be closed Monday.