DTN Early Word Livestock Comments 01/10 06:09

DTN Early Word Livestock Comments 01/10 06:09 USDA To Release WASDE, Grain Stocks Reports Friday Livestock futures were higher Thursday. Cattle futures were sharply higher with cash cattle at record highs. Beef prices continue to advance on strong demand. Hogs increased in spillover trading as underlying fundamentals did not provide much support. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $240.05 +$1.38* Hogs: Lower Futures: Mixed Lean Equiv: $96.28 -$0.05** *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: Northern dressed cattle traded about $5.00 higher with Southern live cattle trading $4.00 higher. The strength over the past few weeks has been incredible. Beef prices continue to increase with choice boxed beef up $2.17 and select up $1.46. Consumers prefer beef and are willing to pay for it. The heavy cattle weights have not hindered the market, but are a blessing, allowing for more meat per carcass. This has also allowed feedlots to remain in the driver's seat as holding cattle for higher prices has not been detrimental. New contract highs were again seen in most live and feeder cattle contracts. Feeder cattle continue to see strong demand at auctions with some seeing double-digit gains over the previous week.