DTN Early Word Opening Livestock 02/07 06:34

DTN Early Word Opening Livestock 02/07 06:34 Follow-Through Buyer Interest Expected in Hog Market Strong early-week gains quickly set the pace for additional gains through the lean hog complex. Additional uncertainty remains concerning long-term supplies, but traders remain focused on short-term availability for now. Cattle futures are expected mixed to higher as traders attempt to build market stability back into the complex. By Rick Kment DTN Analyst Cattle: Steady Futures: Higher Live Equiv $132.24 + 0.12* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 90.43 + 0.67** * 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 activity remains at a standstill going into Tuesday morning as packer bids are still undeveloped at this point. So far, asking prices are hard to come by and may continue to be that way through midweek. The focus on basis opportunities through the end of the week may be the major focus during early February if cattle futures remain stable over the next several trading sessions. Early activity in futures trade will likely remain sluggish with another narrowly moving price range expected to develop through the first few minutes of trade.