DTN Early Word Opening Livestock 09/18 05:42
Mixed Trade Expected Early Tuesday
Limited activity is expected to be seen early Tuesday, with mixed market
activity developing as traders focus on market fundamentals and outside market
direction.
By Rick Kment
DTN Analyst
Cattle: Steady Futures: $1 Higher Live Equiv $136.87 +0.97*
Hogs: $1 Higher Futures: Mixed Lean Equiv $81.02 +1.49**
* 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 is expected to remain sluggish early Tuesday
morning with bids and asking prices undeveloped at this point. It is expected
to be midweek or later before interest starts to be seen by packers, which will
continue to limit overall direction through the complex until late in the week.
Futures trade is expected to remain generally firm following the strong
underlying support that flooded back into the market late last week. But the
question of market activity will limit the overall to develop and sustain
increased trade activity with traders looking for additional longer-term
support through the end of the month.
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