DTN Early Word Opening Livestock 02/10 06:00

DTN Early Word Opening Livestock 02/10 06:00 Lean Hog Issues Staged to Open Moderately Higher at Midweek Hog futures are expected to open moderately higher Wednesday, supported by bullish fundamentals and technical buying. The cattle complex is geared to begin with mixed prices tied to a combination of follow-through selling and pre-cash short-covering. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv $146.65 - $1.07* Hogs: Steady-$1 HR Futures: 10-30 HR Lean Equiv $ 81.37 + $0.21** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Depending upon the exact short-bought status of cattle buyers, packer inquiry could start to take on greater definition Wednesday. Look for opening bids to be around $132 in the South and $208 in the North. On the other hand, asking prices should be around $138 in the South and $215 in the North. Significant trade volume could be delayed until Thursday or Friday. No delivery interest was reported Tuesday afternoon. Live and feeder futures are geared to open on a mixed basis, linked to both long liquidation and short-covering.