DTN Early Word Opening Livestock 10/16 05:44
16 Oct 2018
DTN Early Word Opening Livestock 10/16 05:44 Limited Volume Early Tuesday Early trade Tuesday is likely to see a combination of follow-through buyer support and position-taking following strong early-week interest on Monday. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $134.86 +0.66* Hogs: $1 Lower Futures: $1 Higher Lean Equiv: $ 86.53 +1.46** * 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 market activity is expected to remain silent with bids and asking prices undeveloped through most of the session. It is likely that trade will not develop until midweek or later as the potential for moderate to wide shifts in futures and beef values could keep both sides looking for additional direction. Showlists are mixed with gains in Nebraska offsetting reduced offerings in Kansas. Early futures trade is expected to remain mixed in limited trade. The late-day rally Monday, which helped to offset early pressure is likely to bring more volatility to the market than market stability.