DTN Early Word Opening Livestock 09/13 06:07

DTN Early Word Opening Livestock 09/13 06:07 Price Support Expected Early follow-through buyer support is expected Thursday morning. This is likely to spark some additional underlying activity through the entire complex. But the recent gains may allow for widespread volatility through the end of the week. By Rick Kment DTN Analyst Cattle: Steady Futures: $1 Higher Live Equiv: $136.34 -0.82* Hogs: $2 Higher Futures: $1 Higher Lean Equiv: $ 75.81 +1.62** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Packer interest is expected to increase through the day Thursday with asking prices and bids still holding a moderate-to-wide gap. Initial bids are expected to redevelop in the same range as Wednesday afternoon with live bids at $106 and dressed bids at $168 to $170 per cwt. Active trade may be delayed until sometime Friday, although it would not be surprising if there is some limited trade before late-day Thursday. Futures are expected to open higher with follow-through support developing in the complex. Although the aggressive market shift does open the door for positioning and may spark some market volatility through the next couple of days.