Monday, September 24, 2018  
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DTN Early Word Opening Livestock       09/24 09:22
   Cattle Pressure Likely Monday

   Light-to-moderate price pressure is expected to slowly develop through live
cattle and feeder cattle trade with traders focusing on Fridays, Cattle on Feed

By Rick Kment
DTN Analyst

Cattle: Steady      Futures: $1 Lower   Live Equiv: $135.61 +0.07*
Hogs:   $1 Higher   Futures: Mixed      Lean Equiv: $ 84.18 +0.23**

* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Sluggish market direction is expected through the early hours of trade
Monday as traders return to the market following the weekend break. The lack of
underlying support in last week's Cattle on Feed report is likely to limit
buyer support and put additional pressure on cattle trade. The generally steady
cash cattle trade last week that developed late in the week seemed to focus on
additional market uncertainty through the complex, wondering if prices will be
able to break out of the recent back and forth shifts last week following the
move higher in early September. Cash cattle markets will focus on showlist
distribution and inventory taking with active bids and offers not expected
until midweek or later.
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