DTN Early Word Opening Livestock 03/06 06:14

DTN Early Word Opening Livestock 03/06 06:14 Continued Hog Market Strength Expected Limited interest is expected to develop early Wednesday in all livestock trade. This is allowing for increased underlying support to continue in hog prices, while cattle markets are likely to wander in a mixed range early Wednesday. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $148.56 +0.34* Hogs: Mixed Futures: Higher Lean Equiv: $ 67.00 -0.34** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Limited activity is expected in the cash cattle markets with asking prices and bids still undeveloped, but likely to become more active as the day continues. The likelihood of trade before the end of the week is low given that both sides may stick to their positions unless there is a major shift in futures trade in the next couple of days. Futures trade is expected mixed in limited early trade with limited buying potentially stepping back into the nearby contracts in order to regain last week's losses. This may not test resistance levels or contract highs in the near future, but the strength in fundamentals and expected continued demand support is likely to help support overall beef demand.