DTN Early Word Opening Livestock 02/19 06:07

DTN Early Word Opening Livestock 02/19 06:07 Mixed Cattle Opening Expected Ahead of Cash News and On Feed Report Live and feeder futures are set to open on a mixed basis thanks to follow-through buying and long liquidation. Lean hog contracts should begin moderately lower, checked by spillover selling and late-week profit-taking. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv $144.03 + $0.20* Hogs: Steady Futures: 25-50 LR Lean Equiv $ 79.72 - $1.18** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: It's Friday and cattle buyers have virtually nothing on the books. Packers will have to find a way to secure at least light to moderate numbers. Opening bids should start out around $208 in the North and $128 to $129 in the South. Asking prices should be around $215 in the North and $138 in the South. The Feb. 1 Cattle on Feed report will be released Friday afternoon at 2 a.m. CST. Average guesses anticipate the following results: on feed, 100%; placed in January, 99-100%; marketed in January, 98%. Live and feeder futures seem set to open on a mixed basis as traders cautiously position ahead of cash news and the feedlot inventory.