DTN Early Word Opening Livestock 10/26 06:22

DTN Early Word Opening Livestock 10/26 06:22 Livestock Futures Look For Weak Open Early Monday Light trade is expected early Monday as traders focus on adjusting to the Cattle on Feed report from Friday, as well as adjusting to wide shifts in futures which developed in both live cattle and lean hogs late Friday afternoon. Early-morning positioning will be met with light volume. By Rick Kment DTN Analyst Cattle: Higher Futures: Higher Live Equiv $146.40 + 0.29* Hogs: Steady to $1 LR Futures: $1 LR Lean Equiv $ 90.44 - $1.99** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Additional head will likely be available on showlists Monday morning as overall cash trade last week was light to moderate. It is likely packers will remain short-bought as usual, but unlikely to become any more aggressive at this point. They may be willing to wait until after the first of the month. The Cattle on Feed report may have not brought the clarity many had hoped for, and could delay continued movement through the next couple of months. Futures are expected to continue the weaker tone seen late Friday during early trade.