DTN Early Word Livestock Comments 03/07 06:25

DTN Early Word Livestock Comments 03/07 06:25 Hog Futures Hold the Uptrend Thursday There were no positive closes in the livestock complex Wednesday. Feeder cattle were under the greatest pressure. It was a sour day for hogs as the pattern of new highs came to an end. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $224.80 +$0.09* Hogs: Steady Futures: Higher Lean Equiv: $97.31 +$0.06** *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: Bids and offers for cash cattle were posted Wednesday with distance between them. There were bids of $182 and offers of $186. Dressed bids were at $290 with offers at $295. There were a few trades in Iowa and Nebraska, but not enough to determine a trend. It is Thursday and some trading should be done today. Feedlots are hoping for higher prices, but they may need to settle for steady money at best. Boxed beef was higher with choice up $0.12 and select up $0.22. Cattle futures are in a holding pattern waiting for the pendulum to swing one way or the other. Weekly export sales may provide some price direction Thursday morning.