Tuesday, February 11, 2025  
 
 
 
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DTN Early Word Livestock Comments      02/10 06:13
   Traders to Cautiously Begin Week

   Cattle had a tough week last week. Traders will be cautious about stepping
into the market aggressively and there is concern that further cash weakness
will develop this week. Hog futures held well during the week with the July and
later contracts making new highs.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Lower         Futures: Higher        Live Equiv: $236.84 -$1.44*

   Hogs: Lower          Futures: Mixed        Lean Equiv: $102.65 +$1.36**

   *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:

   It was another difficult week for cattle as futures continued the losses.
Cash cattle traded lower for the first time in quite a few weeks. Southern live
cattle traded $2.00 lower at $206 with Northern dressed cattle $1.00 lower at
$328. Traders expected further weakness in cash as the February live cattle
contract is trading over $5.00 below cash. Various news stories last week put
pressure on the market, which may increase the desire of feedlots to move
cattle rather than risk holding and taking yet lower prices. Boxed beef prices
were lower with choice down $2.11 and select down $1.87. Consumer demand may be
backing off due to the high beef prices. Feeder cattle prices at some auctions
last week were lower in response to the weakness of live cattle. The
Commitments of Traders report showed funds selling 4,533 futures in live
cattle, reducing their net-long positions to 152,303. The funds sold 946
contracts, reducing their net-long position to 26,781 contracts.
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