DTN Early Word Opening Livestock 12/05 05:58

DTN Early Word Opening Livestock 12/05 05:58 Mixed Futures Trade Expected Tuesday Strong support seen in lean hog futures early in the week is expected to draw additional buyer support to the complex. Although the overall lack of support in live cattle markets over the last week is creating some strong concerns that additional long-term pressure may develop. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv $136.06 + 1.29* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 89.18 + 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: Cash cattle market activity remains undeveloped early in the week with bids and asking prices nowhere to be found early Tuesday morning. The focus remains on the wild market shift lower in futures trade, although the strong upward movement in beef values during early December could help put more market stability back into both cash and futures trade over the next couple of trading sessions. Packers are expected to remain moderately short-bought as they try to make the best of the few normal processing weeks before the holiday schedules limit overall chain speed through the end of the year. Futures are expected to open mixed to moderately lower with follow-through pressure from the previous two trading sessions still creating a weak undertone in the complex.