DTN Early Word Opening Livestock 02/26 06:14

DTN Early Word Opening Livestock 02/26 06:14 Moderate Price Shifts Expected Early trade is expected to remain mixed to weak as traders in the cattle complex have their first opportunity to trade after the Cattle on Feed report, which was released Friday. Steady-to-weak market activity is likely to develop in opening trade. By Rick Kment DTN Analyst Cattle: Steady Futures: $1 Lower Live Equiv $146.43 +0.17* Hogs: Steady to $1 Lower Futures: Mixed Lean Equiv $ 84.53 +0.75** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Early trade Monday is expected to start steady to weak with the overall pressure from last week likely to carry into the market. The Cattle on Feed report on Friday afternoon came in neutral to bearish following spot-on marketing levels, while both placements and total Cattle on Feed numbers were increased from early estimates. The main focus was on the bounce higher in placements, focusing on additional longer-term supply available to the market through the rest of the year. Cash cattle activity is likely to remain undeveloped with showlist distribution and inventory-taking the main order of business.