DTN Early Word Opening Livestock 03/01 06:02

DTN Early Word Opening Livestock 03/01 06:02 Uneven Opening Expected in Cattle Futures Look for cattle futures to open mixed thanks to a combination of short-covering and profit-taking. On the other hand, lean hog contracts should start out with moderate strength, supported by constructive fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv $146.30 + $0.07* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 79.31 + $0.84** * 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 traders are set for a typically sleepy Tuesday with neither side bothering to put on much of a game face. Indeed, specific bids and asking prices will probably stay largely hidden until Thursday or Friday. Given the way cash has been appreciating in recent weeks, our guess is that showlists will eventually be priced in the vicinity of $140 to $142 in the South and $220 plus in the North. Live and feeder futures seem staged to open with mixed prices, tied by short-covering and light bull spreading.