DTN Early Word Opening Livestock 09/11 06:21

DTN Early Word Opening Livestock 09/11 06:21 Light Buying Expected Tuesday Narrow trading ranges are expected to once again develop early Tuesday morning in all livestock markets. This could keep traders on the sidelines looking for additional outside market direction through much of the morning. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed to Firm Live Equiv: $137.42 +0.36* Hogs: $1 Higher Futures: Mixed Lean Equiv: $ 72.80 -0.71** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Early-week movement in cash cattle activity remains at a standstill, with overall showlists mixed to generally smaller for the week. This could keep active market movement from developing until late in the week once again as traders look for additional support from both outside markets as well as the development of cattle futures movement. Futures trade is expected to start out in a mixed but tightly grouped trading range with limited volume moving into the complex early Tuesday. This may spark some additional activity as the session continues as traders' assess the ability to build on the market stability over the last couple of days. The narrow trading ranges on Monday seem to be helping to give traders limited confidence to become more active as the month of September continues, but with cattle markets well entrenched in the sideways trading range, it may become extremely difficult to move markets significantly in either direction.