DTN Early Word Opening Livestock 02/12 06:03

DTN Early Word Opening Livestock 02/12 06:03 Livestock Futures Staged for Mixed Late-Week Opening Look for cattle contracts to open on a mixed basis Friday, pushed and pulled by follow-through selling and short-covering. Lean hog issues should also generate uneven price action in the early going, tied to residual buying and late-week profit-taking. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv $146.47 - $0.29 * Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 79.72 - $1.53 ** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Moderate trade volume was generated in most cattle feeding areas Thursday as Southern feedlots accepted bids $3 lower than last week on a live basis ($133) and Northern operators accepted dressed bids generally $4 lower ($206). We could see scattered clean-up business surface here and there through the day, but it looks like the lion's share of cash trading is done for the week. With the board still plowing major discounts to feedlot cash, we still haven't seen any delivery interest. Live and feeder futures are expected to open on a mixed basis thanks to a combination of spillover selling and late-week short-covering.