DTN Early Word Opening Livestock 09/28 07:01

DTN Early Word Opening Livestock 09/28 07:01 Hogs Maintain 3% Pace December hogs will soon tell us what traders thought of Thursday's inventory numbers, but the general sense is that USDA's numbers were close to expectations and prices may even take back part of Thursday's losses. December cattle may start on the defensive with stock markets lower in Europe and the U.S., but cash trade will play a part later Friday. By Todd Hultman DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $135.07 -0.15* Hogs: Steady to $1 higher Futures: Mixed Lean Equiv: $ 85.48 -0.36** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Thursday's trade in December cattle stayed fairly quiet and we are still waiting for this week's cash trade to develop. The higher bids of $109 seen again Thursday suggest a higher trade this week, and it appears traders are not going to be spooked by news of new trade talks with Japan unless something more specific happens to give the market pause. It will be interesting to see if Wednesday's new high in December cattle can survive Friday's close.