DTN Early Word Opening Livestock 03/25 06:07

DTN Early Word Opening Livestock 03/25 06:07 Limited Volume Likely Monday Morning Little market activity is expected through most of the morning Monday with trades reassessing overall market direction following the recent swift price shifts that developed late last week. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv $150.79 -0.02* Hogs: $2 Higher Futures: Mixed Lean Equiv $ 82.29 +1.58** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Early cattle trade is expected to be mixed to moderately lower with traders having the weekend to assess Friday's Cattle on Feed report. Feeder cattle trade is expected to be the most focused on the market following total placements through the month of February at 102%. This is a 6% jump from pre-report estimates and is expected to be viewed generally bearish through the overall complex. Cattle on feed numbers came in at 101% year-ago levels, still 1% over estimates. This is not expected to create a significant long-term shift in overall supply levels but could quickly cool the buyer support recently in feeder cattle trade the last couple of weeks. Cash cattle trade is expected to remain unchanged with limited interest Monday following the firming cash cattle price late last week. Showlist distribution and inventory taking is expected to be the main focus through the cash markets early in the week.