DTN Early Word Opening Livestock 12/14 06:45

DTN Early Word Opening Livestock 12/14 06:45 Cattle Futures Expected to Weaken Early Monday Early follow-through pressure is expected to develop Monday morning as traders look for additional direction from outside markets. The lack of support at the end of the week in both live cattle and feeder cattle trades quickly dashed hopes of redeveloping buyer interest. Hog futures are expected lightly traded but fundamental support should help to support price levels early Monday morning. By Rick Kment DTN Livestock Analyst Cattle: Lower Futures: Lower Live Equiv $134.50 - 0.81* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 78.79 + ___FCKpd___0.38** * 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 light to moderate cash business that took place last week seems to have satisfied packers' needs as they look for slowing procurement schedules in the weeks ahead due to holiday schedules. Continued heavy cattle and lackluster boxed beef values continue to drag the entire complex lower with the emphasis on additional concerns of lower cash spending through the upcoming week. Any cash market news is expected to be limited to showlist distribution and inventory taking Monday. But with this week being the last full week of business for the year, it could set up an interesting dynamic in both cash and futures trade. Mixed to lower futures trade is expected to develop early Monday as the inability to carry over gains seen Thursday has created some significant underlying market softness and long-term concerns about investment traders willing to stay the course through the first half of 2016.