DTN Early Word Opening Livestock 10/23 06:37

DTN Early Word Opening Livestock 10/23 06:37 Cattle Futures Expected Higher in Front of Cattle on Feed Report Friday's Cattle on Feed report will be released at 2 p.m. CDT, which will create some additional market activity as traders focus on pre-report positioning. Feeder cattle futures are expected to open higher in light early trade. By Rick Kment DTN Analyst Cattle: Higher Futures: Higher Live Equiv $146.11 + 0.43* Hogs: Steady to $1 LR Futures: $1 LR Lean Equiv $ 92.43 - $1.62** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Once again cash cattle activity has made it to early Friday morning with the majority of the heavy lifting still to be done. Few bids have been seen through the week, and the scattered interest that has been seen has been stable at best. Although there is likely to be more interest surfacing through the morning, it is quite possible that trade may be delayed until after the Cattle on Feed report. With early guesses that cattle placements will see the biggest shift on the report, there could be some market positioning done up until the report in both the feeder cattle and the live cattle market. However, as seen Thursday, the most volatility may continue to develop in nearby feeder cattle trade. Cattle futures are expected to open higher, although it is uncertain just how much follow-through support will be seen during early morning trade in order to sustain this buyer activity.