DTN Early Word Livestock Comments 11/06 06:14

DTN Early Word Livestock Comments 11/06 06:14 Hog Futures May See Further Liquidation Wednesday Cattle futures closed mixed Tuesday while hog futures closed lower with substantial pressure on the nearby months as traders unwound bull spreads. There is uncertainty over the cash cattle trade this week. Robin Schmahl DTN Contributing Analyst Cattle: Lower Futures: Higher Live Equiv: $228.14 -$0.25* Hogs: Higher Futures: Higher Lean Equiv: $107.34 -$2.58** *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: Live cattle futures moved within a narrow range, managing to close mixed Tuesday as uncertainty shrouded the market as to who would win the presidential election and what cash would do this week. The market now knows who is the next president but will remain uncertain over cash this week. It will be a few months before the impact of the election will be felt as the change does not take place until January, but that will not minimize the volatility that may take place due to the results. Boxed beef prices were mixed Tuesday with choice up $0.30 and select down $1.92. Feeder cattle closed mixed waiting for direction from live cattle.