DTN Early Word Livestock Comments 10/13 06:27

DTN Early Word Livestock Comments 10/13 06:27 Hogs May See Further Short Covering Livestock futures closed higher Thursday in all contracts, except October hogs as Friday is the last trading day and price is mostly factored in. Cash cattle traded higher for the week. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $220.06 +$0.06* Hogs: Higher Futures: Mixed Lean Equiv $ 99.17 -$0.25** *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: Further cash traded Thursday with both the North and South seeing better prices. The North uncovered some cash trade as much as $3.00 higher while the South was about $1.00 higher. This will give feedlots more confidence to hold for those prices Friday and to possibly look for better prices next week. The weakness may be over for the time being. Stronger corn futures Thursday had little impact on cattle as traders were focused on the potential for improving demand as the year progresses. The WASDE report was absorbed with little fanfare as prices and production numbers were somewhat expected. Boxed beef was mixed Thursday with choice up $0.91 while select was down $0.28. The weekly export sales report will be released Friday morning due to Monday's government holiday and may have some influence on trading.