DTN Early Word Opening Livestock 12/18 06:16

DTN Early Word Opening Livestock 12/18 06:16 Livestock Futures Geared for Mixed Opening in Slow Late-Week Action Live and feeder cattle futures seem likely to open on a mixed basis thanks to follow-through selling on one hand and short covering on the other. Hog paper should also begin with uneven price action in light trade volume. By John Harrington DTN Livestock Analyst Cattle: Steady w/Thursday Futures: mixed Live Equiv $131.83 - 0.18* Hogs: Steady-$1 LR Futures: mixed Lean Equiv $ 77.62 - 0.02** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle country may see a few clean-up deals here and there, but for the most part we suspect business is done for the week. Trade volume totals are nothing to write home about. But keep in mind that next week's holiday-shortened kill schedule will be easier to cover in terms of live inventory. This week's stronger basis (with futures falling toward country sales) will make it tough for feedlot managers to hold for higher prices. Look for live and feeder futures to open on a mixed basis, a slow combination of follow-through selling and late-week short covering (profit taking).