DTN Early Word Opening Livestock 03/01 05:55

DTN Early Word Opening Livestock 03/01 05:55 Limited Direction in Early March Light-to-moderate activity is expected to develop Friday, keeping prices within a narrow range. Cash cattle trade will likely be seen late Friday. By Rick Kment DTN Analyst Cattle: Steady Futures: Higher Live Equiv: $146.37 +0.81* Hogs: Steady to $1 Lower Futures: Mixed Lean Equiv: $ 64.94 +0.92** * 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 market inactivity has reached the home straight for yet another week with the potential for late-day Friday trade once again almost assumed. Although asking prices and bids have been available the last couple of days, neither side is willing to budge from current positions. At this point, all sides hope that more activity develops than last week and that it takes place before dark. Traders are looking for new life in the market following the first of March, allowing for the potential for increased market movement following lackluster futures shifts the last two sessions. The strong pullback in feeder cattle trade has created some nervousness through the entire cattle market, making some wonder if a move above long-term resistance levels is possible in the near future. Limited trade is expected early in the session, leading to mixed market shifts.