DTN Early Word Opening Livestock 11/13 06:10

DTN Early Word Opening Livestock 11/13 06:10 Look for Cattle Paper to Open Mixed Tied to Pre-Cash Positioning Live and feeder futures seem set to open on a mixed basis, narrowly scrambled by follow-through buying and pre-cash short-covering. Lean hog contract should begin moderately higher, supported by further short-covering and higher product quotes. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: mixed Live Equiv $141.65 - $2.02* Hogs: Steady Futures: mixed Lean Equiv $ 80.68 + $1.32** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Short-bought cattle buyers have not exactly painted themselves into a corner, but they're certainly running out of time to cover immediate slaughter needs. On the other hand, the boxed beef trade really seems to be struggling. If packers are forced to shop for live inventory sometime between late morning and mid-afternoon, they may keep the car in the parking lot running. Some showlists are likely to be priced around $134-plus in the South and $205-plus in the North. Live and feeder futures seem staged to open on a mixed basis as specs and commercials slowly jockey ahead of cash news.