DTN Early Word Opening Livestock 10/01 06:27
1 Oct 2018
DTN Early Word Opening Livestock 10/01 06:27 Early-Month Support Expected Strong gains late last week and a fresh month and quarter is expected to bring light buyer support back to the complex early Monday. Volume is expected to remain limited most of Monday morning, but the underlying tone of the complex could firm throughout the day. By Rick Kment DTN Analyst Cattle: Steady Futures: Firm Live Equiv: $134.85 -0.22* Hogs: $1 Higher Futures: $1 Higher Lean Equiv: $ 85.05 -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: Cash-cattle activity is expected to remain limited with packers and feeders moving back to the normal Monday routine. It is expected to be even more limited given that we are in a fresh month and quarter, with little cash market direction likely until the middle to end of the week. Some additional longer-term support could redevelop as the firm futures gains late last week has created the expectation that additional buyer interest may develop through the coming days and weeks.