DTN Early Word Opening Livestock 02/11 05:53

DTN Early Word Opening Livestock 02/11 05:53 Look for Cattle Paper to Open Moderately Higher Live and feeder futures seem set to open some higher, supported by follow-through buying and cash market premiums. On the other hand, lean hog contracts should begin with mixed prices tied to residual selling and short-covering. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 25-50 HR Live Equiv $146.76 + .11* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 81.25 - .12** * 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 should continue to improve Thursday with light to moderate trade volume possible, especially in the South. Asking prices remain firm around $138 in the South and $215 in the North. This week's total could be modestly larger than last week's total of 534,000 head, perhaps somewhere in the area of 540,000 head, near even with last year. Live and feeder futures should open moderately higher, boosted by follow-through buying and the premium status of recent feedlot sales.