Dakotaland Feeds, LLC

DTN Early Word Opening Livestock 10/16 05:44


DTN Early Word Opening Livestock 10/16 05:44
Limited Volume Early Tuesday

Early trade Tuesday is likely to see a combination of follow-through buyer
support and position-taking following strong early-week interest on Monday.

By Rick Kment
DTN Analyst



Cattle: Steady Futures: Mixed Live Equiv: $134.86 +0.66*
Hogs: $1 Lower Futures: $1 Higher Lean Equiv: $ 86.53 +1.46**

* 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 market activity is expected to remain silent with bids and asking
prices undeveloped through most of the session. It is likely that trade will
not develop until midweek or later as the potential for moderate to wide shifts
in futures and beef values could keep both sides looking for additional
direction. Showlists are mixed with gains in Nebraska offsetting reduced
offerings in Kansas. Early futures trade is expected to remain mixed in limited
trade. The late-day rally Monday, which helped to offset early pressure is
likely to bring more volatility to the market than market stability.

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