DTN Early Word Livestock Comments 12/15 06:17

DTN Early Word Livestock Comments 12/15 06:17 Livestock Futures Post Gains Except for December Hogs All livestock futures posted gains yesterday except for December hogs which went off the board $0.75 lower. February hogs took over with a bang. Cash cattle did not trade yesterday with some bids developing a bit higher than earlier trade. Robin Schmahl DTN Contributing Analyst Cattle: Lower Futures: Mixed Live Equiv: $210.90 +$0.13* Hogs: Steady Futures: Mixed Lean Equiv: $90.72 -$0.36** *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: Feeder cattle led the complex higher on Thursday posting triple-digit gains across the board. Live cattle struggled a bit more as traders remained cautiously optimistic. Some earlier cash cattle this week traded at $167 live and $267 dressed. Bids were raised to $168 and $268 yesterday but did not get any takers as feedlots are holding for steady cash. Export sales, being better than the previous week at 10,600 MT provided some support yesterday, but it was not enough to turn packers more aggressive yesterday. Boxed beef prices will not get them excited with Choice down $1.14 and select up $0.55. The overall weaker trend of boxed beef is cause for concern. Even though live cattle futures gained on Thursday, traders are waiting for confirmation of cash price activity.