DTN Early Word Opening Livestock 11/09 05:58

DTN Early Word Opening Livestock 11/09 05:58 Trump Victory Set to Bearishly Shake Outside Markets and Rock Commodities Cattle and hog futures seem set to open sharply lower with early selling linked to the surprising victory of Donald Trump as U.S. President. With so much uncertainty in the air both in terms of domestic policy and global markets, a specific focus on meat-related fundamentals may be suspended over the next few days. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 200-300 LR Live Equiv $125.13 - .85* Hogs: Steady-$1 LR Futures: 200-300 LR Lean Equiv $ 79.29 - .06** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Look for the cash cattle market to recede into the background Wednesday morning with both buyers and sellers cautiously monitoring outside markets vis-a-vis election results. If commodities turn extremely volatile tied to the Trump victory, outside markets and feedlot sales will probably be delayed until Friday. While Trump's victory seemed pending but unrecognized by Clinton, Dow futures traded as much as 800 points lower. But the panic seemed to subside somewhat after Clinton conceded to Trump by phone. Specifically, Dow futures are currently off by just 330. Gold is trading sharply higher and the dollar is under pressure. Look for cattle paper to at least open sharply lower, defensively reacting to the unexpected national vote and outside markets.