DTN Early Word Opening Livestock 01/28 05:57

DTN Early Word Opening Livestock 01/28 05:57 Look for Livestock Futures to Extend Firm Undertone on Opening Cattle complex futures are geared to open moderately higher, supported by residual buying and technical considerations. Lean hog contracts should also begin with a firm undertone, lifted by short-covering and impressive cash strength. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv $148.30 - .90* Hogs: $1-2 HR Futures: 25-50 HR Lean Equiv $ 79.84 - .80** * 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 buyers should start to show more interest Thursday with initial bids around $130 in the South and $205 to $208 in the North. Yet firm asking prices close to $137 to $138 in the South and $212 to $214 in the North could mean that significant trade volume will be delayed until sometime Friday. Live and feeder futures seem likely to open moderately higher with the help of follow-though buying, technical encouragement, and ideas of cash/firm cash expectations.