DTN Early Word Opening Livestock 10/08 06:13

DTN Early Word Opening Livestock 10/08 06:13 Livestock Futures Expected Firm Firm market support is expected to move into livestock trade early Monday morning following a volatile week of back and forth shifts during the first week of October. Trade volume is expected sluggish through initial trade, focusing on longer-term market direction. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv $134.29 -0.29* Hogs: Steady Futures: $1 Higher Lean Equiv $84.57 -0.31** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Following steady to $1 per cwt higher cash cattle trade which developed through the end of last week, both sides are expected to go back to a typical Monday routine of inventory taking and show list distribution. This is likely to bring about increased overall support activity later in the week, but bids and asking prices are not expected until midweek or later. Futures trade is focusing on the back and forth shifts seen during the first week of October. This is likely to bring about some additional uncertainty through the complex, as traders may focus on the potential to follow cash market higher early in the week.