DTN Early Word Opening Livestock 01/06 06:13

DTN Early Word Opening Livestock 01/06 06:13 Meat Futures Seem Geared to Open Moderately Higher at Midweek Look for the cattle complex to open moderately higher, supported by the stubborn strength of cut-outs and bullish cash expectations. Lean hog futures also seem set to open on a firm basis thanks to follow-through buying and hopes for more constructive fundamentals. By John Harrington DTN Livestock Analyst Cattle: Higher Futures: 10-30 HR Live Equiv $149.08 + $3.17* Hogs: Steady-$1 HR Futures: 10-30 HR Lean Equiv $ 73.97 + 0.16** * 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 interest could start to improve today, at least in terms of a few preliminary bids. Some showlists will be priced around $140-142 in the South and $215-220 in the North. We still think the development of significant trade volume is unlikely before Thursday or Friday. Live and feeder futures are staged to open moderately higher, supported by concrete strength in the boxed beef movement and ideas of another significant round of greater packer spending for live inventory.