DTN Early Word Opening Livestock 12/30 06:40

DTN Early Word Opening Livestock 12/30 06:40 Markets Focus on Winter Storms and Holiday Trade Limited activity as trade returns to another holiday week as the remains of a major winter storm hold over the upper Midwest. Travel disruptions are expected through the north which will affect movement of cattle and hogs ahead of the New Year's holiday. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv $139.39 -- 0.72* Hogs: Higher Futures: Mixed Lean Equiv $ 79.92 -- 0.74** * 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 for 2019 appears to be wrapped up, unless packers and feeders remain much more aggressive than seen in the last several weeks and get any business done in the next two days. The ability to hold off trade until late last week proved to be profitable for cash cattle markets with moderate to strong support developing when trade finally developed Friday. Cattle feeders are expecting on building on this momentum with asking prices likely to remain elevated once again in the expectation that New Year's holiday activity will keep packers in an aggressive move once again. Show list distribution and inventory taking is the main order of business Monday, although most significant heavy lifting will likely be delayed until the new year when both sides return Thursday and Friday and focus on setting a course for January. The major winter storm that blew through the upper Midwest through the weekend is expected to still have a significant impact on moving cattle early in the week. This may significantly reduce overall weekly processing plans in a week where limited production was already expected. Futures trade is called mixed in limited early trade. Although firm support following the gains in cash cattle trade is likely, the limited volume heading into a holiday shortened trading week will likely limit overall movement Monday morning. Monday slaughter runs are expected at 114,000 head depending on weather conditions and cattle movement over the weekend.