DTN Early Word Opening Livestock 06/09 06:42

DTN Early Word Opening Livestock 06/09 06:42 Cattle Traders Look for Additional Cash Trade Light cash cattle trade started to develop Thursday at $4 per cwt higher in the North. But there is expected to be some additional strong movement still needed to be seen before the end of the week. Increased price support is expected in hog cash markets Friday. By Rick Kment DTN Analyst Cattle: $2-$4 HR Futures: Mixed Live Equiv $161.84 - 0.06* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 97.89 + 1.48** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Light trade developed in the North during feedlot trade Thursday afternoon at $220 per cwt dressed basis which is $4 higher. It is expected that additional trade is expected to need to develop in all areas through the end of the week. Bids may not develop right away in the morning, but through the morning Friday packers may show moderate to strong interest. The direction of futures trade and outside markets could have a lot to do with how aggressive end-of-week buying activity is from the packer end early in the day. But feeders seem to be pretty set on strong asking prices as they look for higher money by the end of the week. Look for mixed futures with a combination of spillover support from the cash market moves while the building pressure in feeder cattle markets are adding some concerns into the overall marketplace.