DTN Early Word Livestock Comments 09/06 06:50

DTN Early Word Livestock Comments 09/06 06:50 Futures Expected to Remain Choppy Traders were uncertain as far as the direction for cattle this week, leaving futures mixed. Hog futures were similarly mixed with no cash price released but strong cutouts providing support. Robin Schmahl DTN Contributing Analyst Cattle: Lower Futures: Mixed Live Equiv: $232.67 +$2.20* Hogs: Higher Futures: Higher Lean Equiv: $106.02 +$5.17** *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: Cattle just could not find any solid direction, trading in about a $2.00 range, but settling near the close of Friday. Feedlots have hopes for higher cash, but they have also been holding over cattle and holding out until late in the week to no avail. The general idea of the trade this week is for no better than steady cash. Boxed beef was mixed with choice up $0.99 and select down $0.75. Cattle supplies have not increased and will remain tight for some time, but it will be up to demand to move prices higher. Concern over rising inflation again is surfacing, which is certainly not what we want to see for maintaining strong beef demand.