DTN Early Word Opening Livestock 12/26 06:23

DTN Early Word Opening Livestock 12/26 06:23 Cattle Futures Set to Open Post-Christmas Trade Lower Live and feeder contracts are likely to open the last week of 2017 with lower prices, pressured by follow-through selling and larger than expected November placement activity. Lean hog issues should resume trading this morning, supported by residual bying interest and post-report short covering.Live and feeder contracts are likely to open the last week of 2017 with lower prices, pressured by follow-through selling and larger than expected November placement activity. Lean hog issues should resume trading this morning, supported by residual bying interest and post-report short covering. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 50-100 LR Live Equiv NA* Hogs: Steady Futures: 50-100 HR Lean Equiv $82.51 -0.02** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle market action will start out in slow gear with buyers and sellers focused only on the distribution of nre showlists. The late week offering should be about steady with last week. Significant trade volume will probably be delayed until at least Wednesday or Thursday. Our guess is that asking prices will start out around $122-123 in the South and $193-195 in the North. Live and feeder futures are expected to open lower thanks to reidual selling and nervousness tied to the larger thsn expected November placement total.