DTN Early Word Livestock Comments 02/13 06:12

DTN Early Word Livestock Comments 02/13 06:12 Cash Cattle Move Onward, Upward Live cattle closed slightly higher Friday while feeder cattle closed slightly lower. Higher cash cattle had already been factored in. Feeder cattle held well in the face of a higher corn price. Hogs mustered a mixed close amidst lower cash and higher cutouts. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $200.30 +$0.22* Hogs: Lower Futures: Mixed Lean Equiv: $88.31 +$0.15** *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: Even though cash traded higher last week, April live cattle futures lost $0.17 for the week while June declined $0.52. Cattle trade in the South waited again until the eleventh hour, resulting in $1.00 to $2.00 higher trade. Cash in the North was $4.00 higher on average and a great victory for feedlots. Feedlots already have their sights set on higher cash this week and will wait it out again. Slaughter pace continues to remain strong as demand is holding. Boxed beef prices were higher Friday with choice up $0.37 and select up $0.28. There was a special announcement that the timely and accurate data to the CFTC of positions for the Commitment of Traders report is still unable to be submitted and reported correctly. The report will be delayed until this can be corrected.