DTN Early Word Opening Livestock 10/18 06:23

DTN Early Word Opening Livestock 10/18 06:23 Potential Wide Market Shifts Redeveloping Early Tuesday If aggressive moves in livestock trade develop early in the week, it could create additional wide price swings early Tuesday morning. This may bring additional market volatility to the complex as commercial and investment traders square off following early-week adjustments. Cash cattle market activity is expected to be sluggish with bids potentially slowly developing over the next two days. By Rick Kment DTN Analyst Cattle: Steady to $2 LR Futures: Higher Live Equiv $123.63 + 0.11* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 79.15 + 0.61** * 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 market activity remains in its infancy early Tuesday morning with bids and asking prices likely to be generally undefined early in the day following a typical quiet Monday of show list distribution and inventory taking. The focus on firm gains, which developed across the entire cattle futures complex, has created additional momentum leading into Tuesday morning trade. This is creating the opportunity to drive additional buyer support back into the market from both commercial and investment sources following the aggressive market shift lower seen through the first week of October. Even though cash cattle trade is not expected to develop, early movement in futures activity and additional interest in boxed beef support will be watched through the day Tuesday.