DTN Early Word Livestock Comments      03/02 06:43
   Cattle Futures May Show Follow-Through Selling

   Cattle continued the liquidation, which is influenced by lower cash trade
and market uncertainty. Hog futures were mixed, with some light positioning
ahead of the end of the month.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Lower          Futures: Higher     Live Equiv: $278.99 +$1.75*

   Hogs: Lower             Futures: Mixed     Lean Equiv: $103.55 +$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:

   Cattle futures plummeted for a second consecutive day, with the nearby June
contract posting the lowest close since Dec. 31, 2025. Selling momentum drove
futures below technical support, adding to the weakness. Lower cash cattle
trade took place on Friday, adding to the pressure. There could be
follow-through liquidation today on continued uncertainty over the JBS strike,
the Iran situation and lower cash. Northern dressed cattle traded $5 lower and
southern live cattle traded $5 lower. This combination may not bode well for
the market in the near term. Boxed beef prices closed higher with choice up
$1.95 and select up $3.52. The Commitment of Traders report showed fund traders
adding 1,911 live cattle futures positions, bringing their net-long positions
to 116,963. They added 878 contracts in feeder cattle, bringing their net-long
position to 19,634.