DTN Early Word Opening Livestock 01/17 06:12

DTN Early Word Opening Livestock 01/17 06:12 Additional Hog Price Pressure Expected Market weakness in lean hog futures is expected to spill over into early Thursday trade. This could add to additional pressure in all livestock markets. By Rick Kment DTN Analyst Cattle: Steady Futures: Higher Live Equiv: $141.27 +0.17* Hogs: Mixed Futures: Lower Lean Equiv: $ 74.22 -0.69** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Packer interest should start to become more evident through the day with bids expected to redevelop during the morning in the similar range as seen midweek in the north at $197 per cwt. So far, there has been little interest in the South, although bids are likely to start at $120 and higher. This still leaves a significant gap between asking prices and bids going into the last half of the week. Cash business may not be inked until sometime Friday, with another round of late-afternoon trade very likely. Futures trade is expected to remain mixed. Even though firm support continues to hold in nearby live cattle complex. The softness through the rest of the livestock market may start to erode previous support.