DTN Early Word Livestock Comments 12/29 06:12

DTN Early Word Livestock Comments 12/29 06:12 Two-Sided Trading Activity May Unfold Livestock futures were under pressure as traders looked to the end of the year. Cash cattle were higher, but boxed beef was lower. Feeder cattle showed more selling pressure. Hogs tried to increase but fell apart as Thursday progressed. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Higher Live Equiv: $210.68 -$0.32* Hogs: Steady Futures: Mixed Lean Equiv: $89.12 +$0.09** *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: December cattle go off the board Friday and will see limited price movement. It was the only contract which posted a gain Thursday. Other contracts closed lower but the earlier losses were trimmed as cash cattle began trading higher than last week. Packers paid $172 in the South and $172-$173 live in the North with dressed at $273. These are $1 to $3 higher than last week. This should provide some support as more cash sales should take place in line with these prices. The opposite impact could come from further weakness of boxed beef as choice declined $0.20 with select down $1.08. However, stronger cash should provide support as February will take over as the lead month on Tuesday and is carrying a discount to cash. Weekly export sales will be released Friday morning.