DTN Early Word Opening Livestock 12/26 06:37

DTN Early Word Opening Livestock 12/26 06:37 Cash Cattle Interest Expected Thursday Even though packers have already sourced a large portion of end-of-year slaughter needs, it is expected that light to moderate trade will be seen over the next couple of days. Packer interest is likely to develop during the morning with the focus on steady to higher cash business coming out of the Christmas holiday. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv Unavailable* Hogs: Steady Futures: Mixed Lean Equiv Unavailable** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Asking prices are expected to redevelop around $123 live in the South and $195 and higher in the North on dressed basis. The focus on three strong days of slaughter schedules yet this week to make up for the Christmas break will not only allow for additional movement of product, but focus on the need to increase commitments for next week. It is uncertain if trade will develop Thursday, or wait until late Friday as is many times the case, but packer bids may start to become much more available through Thursday morning. Futures trade is expected mixed in limited holiday trade activity. Although it is likely that more volume will be seen over the next couple of days than was seen Tuesday, many traders are still absent from the market as holiday vacations continue to take precedence. With USDA offices closed on Tuesday, no cash or meat prices or information have been released on Tuesday or Wednesday, which will put more focus on the morning reports that will be released midmorning Thursday. Thursday slaughter runs are expected at 121,000 head.