DTN Early Word Livestock Comments 01/09 06:17

DTN Early Word Livestock Comments 01/09 06:17 Cash Cattle Trade Should Take Place Today Traders decided not to wait to see what cash does this week but decided to bank some profits just in case. Both feeder and live cattle futures showed similar losses. Hog futures were under some pressure but the losses were confined to double-digits. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Higher Live Equiv: $238.67 +$1.69* Hogs: Higher Futures: Mixed Lean Equiv: $96.33 +$2.13** *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: Today is Jimmy Carter's National Day of Mourning. The agricultural futures markets will close at 12:15 pm Central time. Keep that in mind as you make decisions regarding risk management and track the markets. Cattle futures fell on Wednesday as traders did not want to wait to see the results of the cash cattle trade, but decided to take some profits. Cash trade is expected to be higher, but if feedlots settle for steady money, further liquidation could be triggered. However, the packers seem short-bought and may need to pay higher prices again this week. Boxed beef continues to improve with choice up $2.82 and select up $1.46. Slaughter data released for the week ending December 21, 2024, showed a three-pound increase in dressed steer weights at 953 pounds, up 3 pounds from the previous week. Dressed heifer weights reached 871 pounds, a new record.