DTN Early Word Opening Livestock 10/16 06:06

DTN Early Word Opening Livestock 10/16 06:06 Sluggish Trade Expected Early Monday Light market activity is expected early Monday morning in all livestock trade. Cash cattle markets remain quiet following moderate to active trade late last week. The focus on mixed futures trade and light early volume may allow for additional volatility through the complex. By Rick Kment DTN Analyst Cattle: Steady $2 HR Futures: Mixed Live Equiv $133.09 + 0.43* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 79.59 + 0.59** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Lackluster market activity is expected early Monday morning in both cash and futures trade across the cattle complex with traders looking for additional direction from several market areas early in the week. The active trade late last week in cash cattle markets, which helped to solidify cash cattle prices at $111 on a live basis and $175 dressed basis, will put the focus back on showlist distribution and inventory taking. It is likely that active bids may not develop until sometime Tuesday or Wednesday given the amount of cattle traded over the last week and the general tone of the market. Futures are expected to start out mixed with a positive tone given the recent underlying support redeveloping in feeder cattle trade. This will keep most traders on the sidelines through the first couple hours as volume will remain light during initial trade.