DTN Early Word Livestock Comments 12/14 06:19

DTN Early Word Livestock Comments 12/14 06:19 Cattle Futures May See Further Weakness Livestock futures were lower across the board except for the December hog contract as it goes off the board Thursday. Some light cash cattle trading took place Wednesday at lower prices, which may not set well with traders Thursday. Hogs saw higher cash but remain bearish overall. Robin Schmahl DTN Contributing Analyst Cattle: Lower Futures: Mixed Live Equiv: $210.77 -$0.53* Hogs: Steady Futures: Mixed Lean Equiv: $91.08 -$0.03** *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 price rally in cattle futures ran its course Wednesday as traders became more cautious over cash cattle trade for the week. Some light trade took place in Kansas at $167, which is $3 lower than last week. A few dressed sales took place in Nebraska and Iowa from $267-$270. This is a disappointment to traders as there had been anticipation of at least steady cash. More trade should take place Thursday, but there is concern as early indications are cash will be lower. Boxed beef prices do not provide much support to the overall market as choice was down $1.14 while select gained $0.55. This leaves the overall trend lower. The Federal Reserve left interest rates unchanged Wednesday, which is good news that inflation has slowed and good news for the consumer.