DTN Early Word Livestock Comments 09/28 06:23

DTN Early Word Livestock Comments 09/28 06:23 Quarterly Hogs and Pigs Report to Be Released The cattle complex has yet to find solid footing this week. Some initial light cash trade took place pointing to steady and lower prices. Hog futures were able to post a moderate gain with buying interest mainly technical in nature ahead of the Hogs & Pigs report. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $221.13 +$0.45* Hogs: Higher Futures: Mixed Lean Equiv: $104.84 -$0.52** *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: The cattle complex has seen lower prices since the Cattle on Feed report with futures unable to find solid footing. The general fundamental picture has been somewhat negative as boxed beef prices have been struggling this week and the looming government shutdown seems to have raised more concern over the impact it will have on the reporting of necessary information. Uncertainty generally is bearish to a market. There was some light cash trade Wednesday at steady to $2.00 lower. With futures falling as much as they have, it could be difficult to see higher cash this week. Boxed beef was mixed Wednesday with choice up $1.41 and select down $0.59. Thursday is the last trading day for September feeder cattle with October then taking over as the front month.