DTN Early Word Opening Livestock 02/06 05:53

DTN Early Word Opening Livestock 02/06 05:53 Mixed Trade Expected Following Weakening Market Tone Light to moderate trade is expected through most of the morning Tuesday. This is likely to leave most contracts unsettled with little long-term direction seen during early trade. The widespread outside market pressure could add to the market volatility through much of the week. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv $140.91 +0.30* Hogs: Mixed Futures: Mixed Lean Equiv $ 85.20 -1.51** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Strong market pressure developed across the live cattle and feeder cattle futures with triple-digit losses in feeder cattle setting the tone for the weaker early-week activity. The early-week pullback is still seen as a market correction from the strong gains that developed last week, which has been heavily influenced by sharp losses in the stock market. Cash cattle trade remains undeveloped early Tuesday and is likely to be sluggish through most of the day with bids and asking prices possibly not developing until either late Tuesday or sometime midweek. This could leave further uncertainty in the development of futures trade over the near future.