DTN Early Word Opening Livestock 11/19 06:31

DTN Early Word Opening Livestock 11/19 06:31 Firm Cattle Futures Likely Early Thursday Follow-through buyer support is expected n in cattle futures early Thursday. This comes as traders quickly rallied front-month December contracts at the end of the Wednesday session based on late-day volume and the expectation that additional interest may continue to step into the market over the rest of the week. By Rick Kment DTN Livestock Analyst Cattle: Lower Futures: $1 HR Live Equiv $138.70 - 0.97* Hogs: Steady to $1 LR Futures: $1 HR Lean Equiv $ 76.68 + ___FCKpd___0.16** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cash cattle activity is expected to start to improve over the next couple of days, but it may be Friday until active cash cattle trade is seen, even after the release of the Cattle on Feed report on Friday. Cattle futures that continue to surge higher over the last two trading sessions are making a stand at trying to defend and establish newfound support levels, below $130 per cwt. It is expected that early buyer support will develop Thursday, but at this point, it is uncertain just how much volume will step into the market and if traders will move back into the complex. Traders are looking for a healthy balance between long-term and short-term direction in the complex.