DTN Early Word Opening Livestock 01/30 06:02

DTN Early Word Opening Livestock 01/30 06:02 Weather Conditions Take Priority Wednesday Limited early-market activity is expected with traders focusing on the impact of the extreme cold weather moving through most of the country that will impact all areas of livestock production. By Rick Kment DTN Analyst Cattle: Steady Futures: Higher Live Equiv: $144.98 +0.52* Hogs: Steady to $1 Lower Futures: Mixed Lean Equiv: $ 73.21 +0.17** * 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 markets are expected to remain limited as feedlot managers focus all of their attention on keeping animals fed and healthy through the extreme weather conditions. Asking prices are likely to redevelop at $125 and higher live and $200 to $203 dressed. It might be Thursday or Friday before there is any active trade, and it could be Thursday before any bids develop. Futures trade is expected to be steady to firm through the morning with traders focusing on the weather impact on herd and animal health at a minimum. Limited weight gains will be seen in the next few days, and there is increased potential for death loss in cow herds and feedlots. Because the extreme cold snap is expected to be generally short-lived, this may not have a significant market impact, but it will likely shift market activity.