DTN Early Word Opening Livestock 10/27 06:30

DTN Early Word Opening Livestock 10/27 06:30 Weak Start For Livestock Complex Expected to Continue Pressure seen Monday in both cattle and hog futures is expected to redevelop early Tuesday on follow-through action. This could also bring additional softness to the cash complex. By Rick Kment DTN Analyst Cattle: Higher Futures: $1 LR Live Equiv $145.81 - 0.59* Hogs: Steady to $1 LR Futures: $1 LR Lean Equiv $ 89.82 - $0.62** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Showlists are mixed through the early parts of the week, which is not surprising at the end of the month. The expectation that trade will be delayed until the end of the week also is not a big shock to the market. And yet not another jaw dropper is the fact that packers come into the week extremely short-bought. But once again all of these things are eerily normal, especially going into Halloween week, and what else could be expected? So we will continue to bounce along with very little interest shown early in the week with a few bids developing about midweek. Eventually the tension can't be taken anymore and one side or the other will get scared into making a decision. Futures trade may follow pretty much the same pattern, but on a much shorter timeline through the morning Tuesday, with early weakness likely to develop.