DTN Early Word Opening Livestock 01/28 05:59

DTN Early Word Opening Livestock 01/28 05:59 Early Pressure Expected Monday in Hog Futures The weak tone seen in lean hog futures is expected to redevelop early in the week, although traders are expected to attempt to cover short positions at some point through the morning. This depends on overall volume moving into the complex. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $144.42 -0.30* Hogs: Steady to $1 Lower Futures: Lower Lean Equiv: $ 72.21 +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: With cash cattle trade settling steady to $1 per cwt lower at the end of last week, packers and feedlot managers will quickly go back to work collecting inventory levels and new showlists, in an attempt to spark additional direction after a stagnant month of January. At this point, little direction is expected through the first half of the week, as the majority of trade is likely to remain quiet until Thursday or Friday. Live cattle futures are expected mixed with limited volume early Monday as a combination of spillover buying and position-taking is expected to develop and potentially set the tone for limited activity through the end of the month.