DTN Early Word Opening Livestock 12/24 06:16

DTN Early Word Opening Livestock 12/24 06:16 Cattle Issues Staged for Further Gains Look for live and feeder issues to open solidly higher, supported by follow-through buying and improving fundamentals. Lean hog issues are set to open on a mixed basis thanks to residual buying on one hand and signs of struggling pork demand on the other. By John Harrington DTN Livestock Analyst Cattle: Steady/Firm w/Wed Futures: 100-200 HR Live Equiv $131.45 + $2.34* Hogs: Steady to $1 LR Futures: Mixed Lean Equiv $ 73.09 - $2.54** * 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 cash trade developed in Nebraska and Iowa Wednesday with most dressed sales marked at $200, which was as much as $16 below last week's Nebraska basis. Yet trade volume totals for the week look rather small, suggesting that additional cleanup is possible Thursday. The balance of showlists are priced around $202 plus dressed and $130 live in the South, but it's possible that cash movement is done for the week. Live and feeder futures should open solidly higher, supported by follow-through buying and budding signs of improving beef demand.