DTN Early Word Opening Livestock 01/09 05:57

DTN Early Word Opening Livestock 01/09 05:57 Mixed Trade Expected Early Wednesday Strong early-week support in cattle trade is expected to redevelop early Tuesday, allowing follow-through buying to develop in live cattle futures. Hog markets are expected mixed due to limited initial trade volume. By Rick Kment DTN Analyst Cattle: Steady-$2 Higher Futures: Mixed Live Equiv: $142.16 -0.32* Hogs: $1 Higher Futures: Mixed Lean Equiv: $ 74.80 -0.40** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Lack of market activity on both sides of the cash market is expected again through Wednesday morning. Although packer interest is expected to improve in the next couple of days, it is likely to be sometime Thursday or Friday before active trade is seen, but the focus on futures gains could boost asking prices significantly. Trade through the morning in live cattle and feeder cattle is expected to be a mixed bag with position-taking likely at opening bell, although the underlying firm tone in the market should allow for follow-through buying activity once the initial jitters settle out of the market.