DTN Early Word Opening Livestock 01/31 05:58

DTN Early Word Opening Livestock 01/31 05:58 Limited End-of-Month Trade Activity Expected Livestock futures are expected to limp into month end with light volume likely through most of the session. Traders still are placing some attention on weather conditions and how this may impact production levels, but outside markets will play a more significant role in price shifts Thursday. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $145.05 +0.08* Hogs: Steady to $1 Lower Futures: Lower Lean Equiv: $ 71.51 -1.70** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Limited trade is expected to develop Thursday in cash cattle, although packers are expected to become more aggressive as the day continues. Initial bids are expected to redevelop at $195 dressed basis, similar to midweek with early live bids likely to be around $122 per cwt. Asking prices remain firm at $125 and higher live and $200 and higher dressed. Friday trade is likely at this point unless there are wide shifts in futures trade. Futures are expected to remain sluggish early Thursday morning with light follow-through buyer support likely as traders continue to slowly advance price levels higher. Following contract highs set once again midweek in April and June contracts, the focus on additional market gains continues to develop.