DTN Early Word Opening Livestock 02/06 06:59

DTN Early Word Opening Livestock 02/06 06:59 Early-Week Trade in Livestock Futures Likely Sluggish Sharp pressure in feeder cattle futures over the last couple of weeks could create additional stability in all futures markets Monday morning. Initial cash market activity is likely to remain sluggish, focusing on showlist distribution in cattle trade. By Rick Kment DTN Analyst Cattle: Steady Futures: Higher Live Equiv $132.12 - 0.79* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 89.76 + 1.00** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Early activity Monday in the cash markets is expected to remain focused on showlist distribution and inventory-taking following the early-week moves in the cash cattle market last week. The late-week stability in cattle futures last Friday may create some additional support, but once again, overall cash market activity is not expected until midweek or later. The main question that many traders continue to wrestle with is if the sharp pressure seen last week in feeder cattle trade will be enough to bring active trade back to both live cattle and feeder cattle markets. If not, traders will likely remain stuck in the currently lower trade range through early February.