DTN Early Word Opening Livestock 03/15 06:35

DTN Early Word Opening Livestock 03/15 06:35 Mixed Trade Likely Early Tuesday Traders are closely monitoring early activity in lean hog futures and feeder cattle markets after both markets shifted directions in Monday's session. Early-day volume is expected to remain light until commercial buyer support develops. By Rick Kment DTN Analyst Cattle: Higher Futures: Mixed Live Equiv $151.77 +1.89 * Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 81.09 +0.55 ** * 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 remained at a standstill Monday, which was a surprise to no one as showlist distribution and inventory taking seemed to be the focus of the day. Bids are undeveloped, and likely to remain that way until midweek or later, although a token bid may surface at some point Tuesday. The lack of direction in futures trade Monday seems to indicate some questions about overall longer-term market sustainability. This could continue to play out through the session Tuesday as traders re-establish positions for both short- and long-term market activity.