DTN Early Word Opening Livestock 02/06 06:22

DTN Early Word Opening Livestock 02/06 06:22 Limited Direction Expected Midweek Mixed trade expected early Wednesday morning as traders attempt to bring some renewed stability to the livestock complex. Outside market direction is expected to be closely watched through the day by all livestock traders. By Rick Kment DTN Analyst Cattle: Steady Futures: Higher Live Equiv: $144.74 -0.32* Hogs: Steady to $1 Lower Futures: Mixed Lean Equiv: $ 70.76 -1.90** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cash cattle trade is expected to remain generally undeveloped through the day with asking prices likely to be more available as the day goes along. Although cash cattle trade is not expected to be active until sometime Thursday or Friday, bids may develop midweek. Futures trade is expected to remain mixed to mostly higher with firm support, which has developed in live cattle trade through the week is helping to bring some additional market stability to the entire complex. Feeder cattle trade will continue to be heavily influenced by the movement in grain trade, based on overall production costs associated with feed costs.