DTN Early Word Livestock Comments 12/13 06:21

DTN Early Word Livestock Comments 12/13 06:21 Cash Cattle My See Further Gains Friday Live cattle futures made a valiant effort to extend gains for the fourth consecutive day on Thursday. However, aggressive buying waned with sellers turning aggressive at the lofty prices. Hog futures held onto slight gains at the closing bell, even though cash and cutouts struggled. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $226.50 +$2.49* Hogs: Steady Futures: Mixed Lean Equiv: $98.17 -$0.56** *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 have adjusted to the higher cash prices. More cash trade is expected Friday as activity has been somewhat light. Packers may have to bid up to purchase what they need. So far this week, Northern dressed has traded $3.00 higher with Southern live cattle at steady to $2.00 higher. Packers seem short-bought, which could cause them to step up more aggressively Friday. Feedlots are holding tight to higher offers and have been able to receive higher prices. Packers may purchase only what they need, which may leave them short-bought next week. Boxed beef prices were higher with choice of $4.01 and select up $2.37. Weekly export sales were good at 11,000 metric tons (mt) but nothing to write home about.