DTN Early Word Opening Livestock 09/30 08:20

DTN Early Word Opening Livestock 09/30 08:20 Light Trade Expected to Close Out September Friday trade is expected to be light as traders focus on squaring positions for both month end and end of quarter. The quarterly Hogs and Pigs report will be released Friday afternoon. By Rick Kment DTN Analyst Cattle: Steady Futures: Lower Live Equiv $128.38 - 0.64* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 79.21 - 1.12** * 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 activity is expected to be generally done for the week, although a quick look at available numbers indicates that more numbers could still move in parts of the North before the end of the week. This will likely be covered in any clean-up trade activity that may develop Friday. But any trade that does develop in any area is likely to be steady money on what has traded earlier in the week as the tone has been set for the week. The futures market quickly weakened during late-day Thursday activity following what many had expected to turn into a show of stability and an indication that markets would quietly move into the end of the month. Light pressure is expected early Friday if additional late-month position-taking occurs before traders close the books on what has been a volatile month.