Limited market activity is expected on Monday morning with traders adjusting from late-week moves and focusing on outside market direction early in the week.
Cattle: Steady Futures: Mixed Live Equiv: $151.38 +0.30*
Hogs: 50 cents Lower Futures: Mixed Lean Equiv: $ 90.57 +1.32**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Live cattle futures are expected mixed in limited early trade Monday morning with a combination of follow-through buyer support and early position-taking following the firm end of the week shift that developed on Friday.
Traders continue to focus on the underlying direction of beef values, although the firmness in cash values last week may lead to additional longer-term support.
Cash cattle trade is expected to remain quiet with any activity limited to showlist distribution and inventory taking through the day Monday.