DTN Early Word Opening Livestock 10/21 06:21

DTN Early Word Opening Livestock 10/21 06:21 Light Trade Likely Early Wednesday Light trade is expected early Wednesday morning in both live cattle and lean hog futures. The focus through the complex will likely remain in nearby live cattle and feeder cattle futures as traders adjust positions at midweek. Outside market shifts are likely to play a more prominent role in the market through the morning. By Rick Kment DTN Analyst Cattle: Higher Futures: Steady to 1 HR Live Equiv $145.51 + 1.08* Hogs: Steady to $1 LR Futures: $1 HR Lean Equiv $ 92.96 - $0.35** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Early-week movement in cash cattle country has remained sluggish as usual, although the tone of the market has continued to focus on the aggressive moves in futures markets with both sides questioning just how far this market attendance pass will take them. There hasn't been a bid seen through the week as of yet, and given the aggressiveness of the market, it may be hard to find something before Thursday or Friday, which could set up another round of late-Friday cash market activity. Follow-through futures support is expected early Wednesday morning, with nearby gains followed by light deferred activity.