DTN Early Word Livestock Comments 09/07 06:29

DTN Early Word Livestock Comments 09/07 06:29 Cash Trade Expected Thursday Traders turned optimistic Wednesday in the cattle complex with anticipation of higher cash as packers are purchasing for a full slaughter week next week. Hog futures could not find solid support with October taking the brunt of the selling. Robin Schmahl DTN Contributing Analyst Cattle: Lower Futures: Mixed Live Equiv: $229.45 -$3.22* Hogs: Higher Futures: Higher Lean Equiv: $105.48 -$0.54** *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: Traders felt enough is enough and decided to buy aggressively on the expectation cash might trade higher this week. Packers are purchasing for a full slaughter week next week and it is already Thursday. Some light trading took place Wednesday in Kansas at $179 and higher than last week. Nebraska had some dressed sales averaging $287.75. There was not enough to get an indication of prices for the week. October live cattle closed at the highest level since Aug. 4 and could potentially test the highs if cash and boxed beef provide the support. However, that was lacking Wednesday as choice declined $1.91 and select declined $1.93. It will be important for further cash sales to take place higher this week or futures will fall back.