DTN Early Word Opening Livestock 12/04 06:10

DTN Early Word Opening Livestock 12/04 06:10 Cattle Futures Set for Mixed Late-Week Opening Expect cattle futures to open on a mixed basis this morning with live and feeder contracts torn between follow-through selling and late-week profit-taking. Lean hog paper should begin moderately higher, supported by short-covering and signs of carcass strength. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: mixed Live Equiv $136.95 + 0.46* Hogs: Steady-$1 HR Futures: 10-30 HR Lean Equiv $78.55 +$1.98** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Light to moderate business surfaced in Kansas and Texas on Thursday with live deals mostly $2 lower at $124 (some early in the day at $125). Although some clean-up trade could develop in feedlot country this morning, we suspect the lion's share of the week's trade is pretty much in the can. Asking prices on the balance of showlists should be around $127-plus in the South and $195 to $198 in the North. Live and feeder futures seem likely to open on a mixed basis thanks to a slow combination of residual selling and late-week profit-taking.