DTN Early Word Livestock Comments 09/05 06:27

DTN Early Word Livestock Comments 09/05 06:27 Cash Cattle Are Expected to Trade Thursday Live cattle futures tried to follow through on Tuesday's strength but were unable to extend the gains Wednesday. Feeder cattle showed further pressure due to disappointing fundamentals. Hog futures showed spread trading as traders sold the nearby contracts and purchased the deferred. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $228.62 +$0.31* Hogs: Lower Futures: Lower Lean Equiv: $101.37 -$3.53** *Based on the formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv. The 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: Traders turned cautious over the cash potential this week. No cash cattle has yet taken place. The packers and feedlots have not indicated who will be more aggressive this week. Cash is expected to trade Thursday with a growing idea it may be steady with last week. The packers have been purchasing cattle ahead, leaving them potentially less aggressive this week. Boxed beef prices were mixed Wednesday, leaving traders uncertain over demand potential. Choice cuts were up $0.93 while select cuts were down $0.72. Feeder cattle futures did not provide support, eliminating the gains of Tuesday and keeping futures entrenched in a sideways pattern.