DTN Early Word Opening Livestock 09/25 05:52

DTN Early Word Opening Livestock 09/25 05:52 Weaker Market Tone Expected Tuesday Firm pressure is likely to develop in most contracts with traders still focusing on growing supplies in cattle trade, while the release of the Cold Storage report will bring about increased market weakness Tuesday. By Rick Kment DTN Analyst Cattle: Steady Futures: $1 Lower Live Equiv: $136.28 +0.67* Hogs: $1 Higher Futures: $1 Lower Lean Equiv: $ 84.99 +0.84** * 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 is expected to remain silent through most of the session with bids and asking prices currently undeveloped and likely to remain that way until midweek or later. The pressure in futures trade on Monday is expected to spark some additional market liquidation with early movement expected to remain steady to lower in several contract months. Some attempts of short-covering interest moving into the market early is likely due to limited volume as markets open, but the overall tone remains weak. The increased beef in storage in the Cold Storage report will cause additional concerns for many traders.