DTN Early Word Opening Livestock 01/07 06:09

DTN Early Word Opening Livestock 01/07 06:09 Cattle Futures Expected Weaker Follow-through pressure is likely to develop early Monday morning across live cattle and feeder cattle trade. The underlying pressure that has swept through the complex is adding increased market concern to nearby trade levels. By Rick Kment DTN Analyst Cattle: Steady Futures: $1 Lower Live Equiv: $142.31 -1.16* Hogs: $1 Higher Futures: Mixed Lean Equiv: $ 74.34 -0.29** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Additional market pressure is expected to slowly develop through early trade Monday morning with the strong triple-digit weakness from late last week creating additional market uncertainty. With feeder cattle futures breaking through initial market support last week, a combination of follow-through market pressure and short-covering is likely to develop through morning trade. Cash cattle activity is expected to remain at a standstill. Following generally steady price levels last week, showlist distribution and inventory-taking will be the main order of business Monday.