DTN Early Word Opening Livestock 08/26 06:05

DTN Early Word Opening Livestock 08/26 06:05 Hog Futures Seem Staged to Open Moderately Higher Lean hog contracts are set to open higher, supported by follow-through buying and signs of strong demand. The cattle complex is likely to trade with uneven price action in the opening rounds. By John Harrington DTN Analyst Cattle: Steady Futures: mixed Live Equiv $163.36 - 0.27* Hogs: Steady Futures: 10-30 HR Lean Equiv $ 94.08 +$1.14** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: At least a few starter bids should surface through the morning as short-bought packers begin to position around available live supplies. Yet if futures can stabilize and producers stick with asking prices around $150 in the South and $236-238 in the North, significant trade volume will probably be delayed until Thursday or Friday. Again, the opening of cattle futures could be influenced by Wall Street prospects. If not distracted in that regard, live and feeder issues seem likely to open on a mixed basis tied to short covering and spillover selling.