DTN Early Word Livestock Comments 09/14 06:19

DTN Early Word Livestock Comments 09/14 06:19 Cattle Futures May See Follow-Through Selling Cattle futures set back Wednesday as traders found little to trade on, which resulted in some profit-taking. Hogs did their usual flip with pressure on October after two days of gain, leaving later contracts mixed. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $226.40 +$0.51* Hogs: Higher Futures: Mixed Lean Equiv: $105.34 -$2.98** *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 had nothing to go on as they waited for cash trade. A limited amount of cattle traded in Nebraska Wednesday at $286 dressed, but nothing else took place. This light activity provides no solid direction for the market. It is likely limited cash trading will surface Thursday as feedlots and packers push each other into a corner. Boxed beef has not performed very well so far this week with prices mixed Wednesday. Choice was down $0.48 while select jumped $3.41. There has been anticipation cash may trade $1.00 higher, but that may be fading as the market has that factored in and feedlots that have been carrying cattle over the past few weeks may be willing to move them rather than hold another week. Further pressure may unfold in feeder cattle as it retraces from contract highs.