DTN Early Word Opening Livestock 09/26 06:09

DTN Early Word Opening Livestock 09/26 06:09 Limited Interest Expected Early Wednesday Sluggish trade activity within a narrow to moderate trading range is expected in livestock futures early Wednesday morning. Light volume may attempt to adjust positions midweek. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $135.98 -0.30* Hogs: $1 Higher Futures: $1 Lower Lean Equiv: $ 85.42 +0.43** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Activity in the cash cattle market is expected to remain quiet once again with bids likely at $174 dressed, and starting out near $106 on a live basis. At this point, it is uncertain just how much midweek interest there will be by either side, as active trade is not likely to develop until later in the week. Futures trade is expected mixed with limited interest likely to develop following the narrow market gains seen Tuesday. Nearby contracts are focusing on sustaining short-term support levels with October futures holding above $112 per cwt. Similar sluggish market direction is expected in feeder cattle markets as traders are focusing on outside grain market shifts through the end of September.