DTN Early Word Opening Livestock 11/05 06:18

DTN Early Word Opening Livestock 11/05 06:18 Cattle Futures Geared for Further Losses in Early Going Live and feeder contracts should open solidly lower, pressured by spillover selling and softer cash expectations. Lean hog issues also seem set to begin on the defensive thanks to consistently sagging live and pork product prices. By John Harrington DTN Livestock Analyst Cattle: Cash Steady Futures 50-100 LR Live Equiv $147.00 + .50* Hogs: Cash $1-$2 LR Futures 50-100 LR Lean Equiv $80.84 - $1.16** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The cash cattle trade might have taken on greater definition Thursday had it not been for the market confusion linked to the bearish behavior over the last several days. Yet because of unsettling psychology, significant volume will probably now be delayed until sometime Friday. Bids and asking prices this morning are likely to stay largely hidden until the board suggests greater stability. Live and feeder futures seem staged to open under at least moderate pressure, weighed down by follow-through selling from Wednesday's slam and defensive fundamentals.