DTN Early Word Opening Livestock 12/11 06:24

DTN Early Word Opening Livestock 12/11 06:24 Firm Cattle Trade Likely Early Friday Follow-through buying is expected to develop through the cattle complex early Friday morning. The expectation is likely to help to create some additional momentum headed into the weekend with cash cattle markets likely wrapped up for the week. Hog futures trade is likely to remain mixed in a narrow range through most of the morning. By Rick Kment DTN Livestock Analyst Cattle: Lower Futures: Higher Live Equiv $135.31 - 0.29* Hogs: Steady to $1 HR Futures: Mixed Lean Equiv $ 78.41 + $1.28** * 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 trade may well be done for the week due to the trade activity that trickled into the door on Tuesday and Wednesday. With prices pushing sharply lower from last week levels, overall average prices are expected to be somewhere around $5 to $6 per cwt lower than last weeks average once the totals are all in. There continue to still be enough cattle on show lists yet to sell, and this could allow for some clean up trade to develop Friday if the opportunity develops. But at this point, it is more likely that both sides will sit on their hands to see what next week brings. Futures trade is expected to start out firm based on the rally that developed Thursday, although there is expected to be some cautionary seller activity stepping into the complex before the end of the week as it is unlikely that the bearishness of this market downturn has shown its last hand.