DTN Early Word Opening Livestock 12/09 06:35

DTN Early Word Opening Livestock 12/09 06:35 Cattle Futures Expected Lower Early Wednesday Feeder cattle futures are expected lower Wednesday following aggressive late-day losses at the end of the session Tuesday. The inability for buyers to hold previous market support and the development of extremely light, but lower cash cattle trade early in the week continues to pressure the entire cattle market. By John Harrington DTN Livestock Analyst Cattle: Lower Futures: Mixed Live Equiv $136.13 + 0.50* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 76.57 + $1.79** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The development of light trade seen through the north Tuesday afternoon was not enough to establish a market trend, but the aggressive shift lower from last week's price levels is enough to create some underlying concern about the ability for feeders to carry much weight through the week given the aggressively lower futures prices seen during the week. Bids and offers are expected to remain sluggish once again early Wednesday morning with activity redeveloping as the day continues, with more interest likely to be seen in the South through the last half of the day. Futures trade is likely to remain on the defensive once again, following the pullback in late-day trade Tuesday.