DTN Early Word Livestock Comments 03/06 06:06

DTN Early Word Livestock Comments 03/06 06:06 Mixed Trading Activity Expected It was a strong day Friday for the cattle complex. Traders waited for cash to trade more heavily before buying into the market. Higher cash was expected and received. Hogs closed higher across the board, but gains were limited as the gains seemed to be from short-covering into the weekend. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $214.65 +$0.26* Hogs: Higher Futures: Mixed Lean Equiv: $92.80 -$0.17** *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: After holding out until Friday afternoon, cash cattle traded with live cattle in the South $1.00 to $2.00 higher with Northern dressed cattle averaging $4.00 higher. Higher cash is a weekly occurrence, and this may be the norm for a while. With reduced cattle numbers and good demand, it will take higher cash to pull cattle forward. Feedlots clearly have the leverage and can sell cattle at will and not have to deal with a backlog. Boxed beef was mixed Friday with choice up $0.82 and select down $0.72. This is not expected to have a bearing on today's trade. However, traders are expected to follow a similar pattern as the past weeks with mixed activity as weekend demand is assessed.