DTN Early Word Livestock Comments 01/31 06:00

DTN Early Word Livestock Comments 01/31 06:00 Livestock Complex Faces End of the Month Uncertainty The livestock complex closed higher to end the week. Monday is the last day of the month, which has some traders positioning themselves for accounting purposes. However, with the trading action last week, that may not have much impact on price movement. Robin Schmahl DTN Contributing Analyst Cattle: Steady. Futures: Mixed. Live Equiv: $217.12 +$1.24* Hogs: Steady. Futures: Mixed. Lean Equiv: $103.57 -$1.76** *Based on formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv. 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: Trading activity may be subdued Monday due to it being the end of the month, but also as traders are uncertain over cash activity this week. Last week, cash cattle were steady to $1.00 lower. There is not much expectation for anything better than steady cash this week. Increasing feed prices will have feedlots wanting to move cattle. Packers would like to increase slaughter to take advantage of strong profit margins but may not need to increase bids to accomplish the task. They already have some purchased ahead reducing their need to be aggressive. Boxed beef prices increased on Friday with choice up $1.31 and select up $4.31. Monday, the annual cattle inventory report will be released with a decline in the nation's herd expected from a year ago.