DTN Early Word Opening Livestock 11/06 05:47

DTN Early Word Opening Livestock 11/06 05:47 Livestock Futures to Open With Follow-Through Selling The cattle complex at the CME should open on the defensive, pressured by uncertainty regarding the ability of November beef demand to handle late-fall cattle supplies. Lean hog issues should also open in the red, pressured by follow-through selling and the challenge of seasonally large pork supplies. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 50-100 LR Live Equiv: $142.70 + .26* Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv: $ 79.81 - .21** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle buyers and sellers should experience a typical "do-nothing-Tuesday" with both bids and asking prices remaining poorly defined. Whether or not cattle futures can find stability will impact the timing of this week's cash trade. If both sides can manage to keep their cool, significant trade volume may not surface until Thursday or later. Live and feeder futures should open moderately lower, pressured by residual selling and uncertain fundamentals.