DTN Early Word Opening Livestock 08/22 05:57

DTN Early Word Opening Livestock 08/22 05:57 Livestock Values Expected Under Pressure Early Tuesday Firm weakness early in the week is expected to draw additional market pressure in both futures and cash markets early Tuesday. The overall tone of the market is likely to remain weak although light trade volume and lackluster market direction is expected through much of the morning. By Rick Kment DTN Analyst Cattle: Steady to $2 Lower Futures: Lower Live Equiv Unavailable* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv Unavailable** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Overall interest through the cash cattle market is expected to remain quiet once again early Tuesday morning with potential bids developing later in the day, although it is unexpected that trade will be seen until late in the week. Continued pressure in futures trade is expected to develop as traders remain focused on the potential of increasing supply levels in the upcoming Cattle on Feed report. Following the pressure in cash cattle trade over the last couple of weeks, follow-through pressure is likely to develop in cash markets, although feeders will attempt to limit losses as asking prices become more established through the day Tuesday.