DTN Early Word Opening Livestock 11/23 06:13

DTN Early Word Opening Livestock 11/23 06:13 Mixed Livestock Trade Expected Early Thanksgiving Week Initial activity is expected to remain sluggish Monday as traders return ahead of the Thanksgiving holiday. Cash cattle markets developed late Friday, but it will be later Monday before total numbers and average sales prices are distributed, limiting activity early in the day. Overall volume is expected to remain sluggish through much of the morning in both cattle and hog futures. By Rick Kment DTN Livestock Analyst Cattle: Lower Futures: Mixed Live Equiv $135.82 -- 1.29* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 77.63 - $1.25** * 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 trade through the end of last week is expected to be light once again, although the amount of cattle needed for the shortened holiday week schedule will remain lighter. But this still creates concern for packers to gain access to cattle as cash prices continue to slide lower in the cash market with Northern trade falling generally $4 to $5 per cwt from the previous week by late afternoon Friday, while Southern trade remained extremely light at the end of the day and enough to pinpoint a weaker trend, although not to settle on an average price at this point until additional totals come in later in the day Monday. Futures trade is expected to remain choppy through much of the morning with mixed trade likely to be seen, although some early positioning may help to create follow through feeder cattle support following the cattle on feed report which came in along early expectations.