DTN Early Word Livestock Comments 03/08 06:15

DTN Early Word Livestock Comments 03/08 06:15 USDA Extends Increased Pork Line Speed Trial Traders were a bit more cautious with live cattle trade yesterday. The upcoming WASDE report and some reduced expectations of cash this week trimmed the exuberance. Hogs saw bull spreading of April contract to later months. Futures made a valiant effort to close higher near the end but could not hold. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $214.05 -$0.95* Hogs: Higher Futures: Mixed Lean Equiv: $94.25 -$0.31** *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: Live cattle settled back a bit in nearer months as traders now want to wait to see the strength of cash. Expectations were strong for higher cash this week, but some expectations waned a little Tuesday. The expectation is for higher cash, but not quite as strong as the past few weeks. Traders will look at the numbers USDA will put out for beef supply and prices on the World Agricultural Supply and Demand (WASDE) report Wednesday, but that in itself may not be a market-mover as the expectation is for higher prices and reduced supply. Boxed beef was mixed Tuesday with choice down $2.27 and select up $1.02. The rest of the week boxed beef may be the greater influence on the market. Feeder cattle made new contract highs Tuesday with April pushing closer to $200.