DTN Early Word Opening Livestock 09/27 06:16

DTN Early Word Opening Livestock 09/27 06:16 Mixed Trade Expected Friday Following a strong market rally in all livestock futures, early activity Friday is expected mixed. Traders continue to focus on positive trade activity in the pork complex, while adjusting positions ahead of the weekend. By Rick Kment DTN Livestock Analyst Cattle: Higher Futures: Mixed Live Equiv: $137.91 -0.24* Hogs: Higher Futures: Mixed Lean Equiv: $ 75.18 +0.67** * 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 trade started to slowly develop Thursday afternoon with dressed trade in Nebraska and Iowa reported at $165 per cwt. This is a $3 per cwt rally from last week's average in Nebraska. Additional trade is still expected in the North, but without a strong shift in futures or beef values through the morning, the tone may have already been set Thursday. Southern trade remains at a standstill, although packer interest is expected to improve through the day with at least light trade expected in the South through the day. The boost in cash trade in the North is expected to stimulate firm asking prices through most of the day as feeders are looking for higher cash cattle trade in all areas when the dust settles. Futures trade is expected mixed, but the firming undertone through the week is expected to continue to develop into next week. Even though Monday is the last day of the month, some end-of-the-month positioning may start to develop ahead of the weekend, causing limited market adjustments in what is expected to be a generally sluggish trading session Friday.