DTN Early Word Livestock Comments 10/06 06:30

DTN Early Word Livestock Comments 10/06 06:30 Hog Futures May See Further Short-Covering Ahead of Weekend It was another day of cattle traders not knowing which direction to trade the market. Live cattle were mixed while pressure was put on feeder cattle. Hogs showed strong buying interest due to very good exports and cutouts showing some strength. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $218.74 +0.41* Hogs: Lower Futures: Mixed Lean Equiv: $102.05 +$0.34** *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: There was some cash cattle trade Thursday, which showed a bit more support. Northern dressed cattle showed some strength with prices steady to $1.00 higher. The $1.00 higher may not be repeated Friday as packers may have most of their needs met for the week. Southern cattle traded steady to $1.00 lower. Significant technical damage has been done to feeder cattle futures, which may keep traders cautious over buying back into the market aggressively. Boxed beef prices were mixed with choice up $1.00 and select down $0.10. Exports sales were nothing to write home about with 143,300 metric tons (mt) sold falling 25% below the previous week.