DTN Early Word Livestock Comments 11/14 06:15

DTN Early Word Livestock Comments 11/14 06:15 Cash Cattle Trade Expected Thursday Cattle futures were choppy Wednesday, lacking any specific direction. No further cash sales took place, leaving traders guessing. Hogs came back nicely from the lows and the negativity that was prevalent in the market for much of Wednesday. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $221.78 -$0.68* Hogs: Lower Futures: Higher Lean Equiv: $103.17 -$0.42** *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: Cattle futures did make an effort to move higher Wednesday, but traders did not commit to the prospect of higher cash. Feedlots may not be as willing to let go of cattle as no further trade took place. Cash trade is expected to take place Thursday, but traders may wait to see what develops before being more aggressive one way or the other. Boxed beef seems to be following the pattern of last week with lower prices as the week progresses. Choice cuts were down $1.33 with select cuts down $1.26. Weekly export sales are delayed until Friday due to the Veterans Day holiday Monday. Feeder cattle futures have developed a sideways pattern. Demand is strong for cattle with traders supportive but following the lead of live cattle.