DTN Early Word Livestock Comments 05/12 06:28

DTN Early Word Livestock Comments 05/12 06:28 Hog Trade May Show Uncertainty Live cattle could not close in positive territory as lower cash trade left traders unwilling to support the market. Feeder cattle were mostly higher in response to lower corn prices. Hogs were lower in most contracts with the most pressure put on later contracts. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $224.36 -$0.54* Hogs: Lower Futures: Higher Lean Equiv: $90.21 +$1.48** *Based on formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equivalent 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: Cattle had another disappointing week with cash traded developing below last week's level. Cash cattle in the South traded $2.00 lower with Northern dressed cattle trading $1.00 lower. Any trade today will fall in line with the trend this week. Boxed beef prices were mixed with choice down $1.15 and select up $0.04. Weekly exports sales were nothing to write home about as the volume was 18% below the previous week at 16,000 MT. The World Agricultural Supply and Demand report will be released today and will have an impact on corn prices which will likely influence feeder cattle.