DTN Early Word Opening Livestock 01/26 09:40

DTN Early Word Opening Livestock 01/26 09:40 Cattle Futures Set to Open Moderately Lower Look for live and feeder cattle futures to open moderately lower, pressured by follow-through selling and signs of softening beef demand. On the other hand, lean hog contracts seem geared to trade on a mixed basis in the early rounds thanks to a combination of residual buying and profit-taking. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 25-50 LR Live Equiv $150.17 - .86* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 79.65 + .29** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The cash cattle trade should remain in slow motion Tuesday with neither bids nor asking prices terribly suggestive. Both sides will be cautiously monitoring the board for signs of late winter price direction. Our guess is that showlists will be initially priced around $137 plus in the South and $215 plus in the North. Live and feeder futures are likely to open moderately lower, pressured by spillover buying and late-month demand worries.