DTN Early Word Opening Livestock 01/25 06:30

DTN Early Word Opening Livestock 01/25 06:30 Cattle Futures Look Cash Trade Development Limited activity is expected early Friday morning as traders focus on position-squaring activity as well as adjusting to developing cash market activity at the end of the week. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv $144.72 +0.23* Hogs: Steady to $1 Lower Futures: Lower Lean Equiv $ 71.85 -1.43** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Packer interest should start to show more early Friday with bids expected to be in similar ranges as the last couple of days, but the ability to gain access to cattle is likely to move prices steady with last week at the least, unless there's a major turnaround in futures trade. Early bids are expected to be at $122 live and $196 dressed, although asking prices will remain firmly higher at $126 to $128 live, and $200 and higher dressed. It may be late afternoon before the majority of cash market activity develops. Futures are expected mixed to firm with follow-through support stepping into both feeder cattle and live cattle trade. The possibility of end of the week position-squaring is likely to bring about moderately mixed trade at times on Friday.