DTN Early Word Opening Livestock 12/08 06:35

DTN Early Word Opening Livestock 12/08 06:35 Cash Cattle Activity Remains Sluggish Tuesday Bids and asking prices remain undeveloped Tuesday morning as traders continue to focus on the aggressive pressure through the futures trade. The focus on follow-through market pressure early Tuesday is likely to continue to put additional softness in the entire livestock market. By John Harrington DTN Livestock Analyst Cattle: Lower Futures: Lower Live Equiv $135.63 -- 0.22* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 78.36 + ___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 business is expected to remain in slow motion once again Tuesday with very little definition developing from the sharp futures market losses Monday as packers remain focused on the ability to gain access to cattle through the middle of December, while feeders attempt to bring a sense of stability to the cash market which has been moving steadily lower over the last month. Strong cash cattle negotiated sales developed last week, which may elevate the pressure to move cattle earlier in the week, and could delay active bids until midweek or later. Futures are expected to remain defensive once again early Tuesday in follow through pressure, although short covering activity may develop through the morning.