DTN Early Word Opening Livestock 02/25 06:10

DTN Early Word Opening Livestock 02/25 06:10 Limited Cash Cattle Trade Posts Gains Light cash cattle trade developed late last week in the North. This pushed dressed trade to $202 per cwt, a $2 per cwt rally from the previous week. This is expected to spark some interest in futures trade early Monday. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $145.74 +0.64* Hogs: Steady to $1 Lower Futures: Mixed Lean Equiv: $ 63.46 -2.22** * 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 developed in the North late Friday, although the wait was worth it for feedlot managers as prices developed at $202 per cwt, $2 higher than the previous week. The lack of trade at these levels and abandoning trade in the South is clearly a concern going forward. There could be some spillover trade Monday in order to acquire enough cattle to keep plants full or near full through the week. For the most part, both sides will move to the routine task of collecting numbers with inventory-taking and showlist distribution in cattle country. Futures are expected mixed to mostly higher with follow-through support from late last week, as well as the firm cash market shift supporting futures trade.