DTN Early Word Opening Livestock 11/20 06:17

DTN Early Word Opening Livestock 11/20 06:17 Cash Cattle Trade Pushed to End of Week Following a volatile week of trade in futures markets, cash cattle markets have remained at a virtual standstill up until Friday as packers and feeders are looking for a breakthrough that may not happen before the week is over. It may be after the Cattle on Feed report is released before active cash cattle trade develops. By Rick Kment DTN Livestock Analyst Cattle: Lower Futures: $1 LR Live Equiv $137.11 -- 1.59* Hogs: Steady to $1 LR Futures: $1 HR Lean Equiv $ 78.88 + $2.20** * 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 trade is going to be a finish line event as bids have been essentially unavailable through the entire week. Asking prices have been established in the same range through the second half of the week in the South at $131 and higher, although asking prices in the North have not developed. It is likely that without a major shift in futures prices, active cash cattle trade will not be seen until after the release of the Cattle on Feed report at 2 p.m. CST. This could make cash cattle trade a quick endeavor once it does start. Futures trade is expected to follow spillover pressure seen Thursday afternoon. The lack of buyer support at the end of the week could create additional concerns about trade through the end of the month.