DTN Early Word Opening Livestock 02/08 05:51

DTN Early Word Opening Livestock 02/08 05:51 Weakness Expected to Continue Through Hog Complex Market weakness is likely to continue through the lean hog complex with a combination of fundamental and technical pressure developing across the market. By Rick Kment DTN Analyst Cattle: Steady Futures: Steady to $1 Lr Live Equiv $140.63 +0.46* Hogs: $1-$2 Lr Futures: $1 Lr Lean Equiv $ 82.42 -0.89** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Sluggish activity is expected through all cattle trade early Thursday morning with light to moderate buying likely to slowly develop over the first couple hours of trade. There is increased market interest in deferred contract markets, which may help to spark renewed longer-term buyer support. The underlying concern surrounding the volatility in outside markets is likely to still keep markets shifting in a moderate range through the end of the week. Cash cattle trade is still undeveloped although packer interest is likely to be more persistent through the day. It is possible that with firm moves across the future trade, some light activity may develop in cash markets before the end of the day Thursday.