DTN Early Word Livestock Comments 10/10 06:23 Livestock Futures May Show Further Weakness Thursday Livestock futures corrected with lower prices across the board Wednesday. This weakness may have been a price correction rather than the market reaching a peak. This may correct the overbought market. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $224.57 +$0.65* Hogs: Lower Futures: Lower Lean Equiv: $101.20 +$0.39** *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: Traders did not see any cash cattle trade develop and felt the market already had an increase factored in. The October live cattle contract moved near the contract high with December and February setting new highs before falling back Wednesday. Traders decided to temper their buying ahead of seeing what cash would do this week. There is anticipation that cash cattle will trade higher this week, but higher cash is already factored in. Boxed beef prices indicated demand is improving with prices higher again Wednesday. Choice boxed beef increased by $1.34 with select up by $0.02. Based on the pattern of the past two weeks, it isn't likely cattle will trade today unless packers feel they need to get business done and pay more for the cattle. Feeder cattle prices continue to remain strong on good demand.