DTN Early Word Opening Livestock 12/30 06:15

DTN Early Word Opening Livestock 12/30 06:15 Cattle Paper Seems Set to Open Moderately Higher Cattle Paper Seems Set to Open Moderately Higher Live and feeder contracts are likely to open moderately higher, supported by midweek short covering and sharply higher cut-outs. Look for lean hog futures to open on a mixed basis thanks to a combination of spillover selling and short covering. By John Harrington DTN Livestock Analyst Cattle: Higher Futures: 25-50 HR Live Equiv $138.32 + $3.03* Hogs: Steady Futures: mixed Lean Equiv $ 74.81 + 0.26** * 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 buying should start to improve today, though significant trade volume could be delayed until sometime Thursday. Asking prices should be around $132-134 in the South and $210-plus in the North. CME officials announced on Tuesday the posting of 11 deliveries, 5 new ones (all steers at Dodge City) and 6 pretenders at $2 (all heifers at Dodge City). Live and feeder futures should open moderately higher, supported by short covering and sharply higher beef cut-outs.