DTN Early Word Opening Livestock 03/10 06:10

DTN Early Word Opening Livestock 03/10 06:10 Meat Futures Staged for Opening Strength Lean hog contracts should open with a firm undertone, supported by follow-through buying and greater packer spending in the country. Live and feeder futures are also likely to begin with moderate strength, helped by rising carcass value and greater cash potential. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv $148.99 + $1.03* Hogs: Steady-$1 HR Futures: 25-50 HR Lean Equiv $ 80.32 + $0.19** * 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 buyers should start to get more serious about procurement chores Thursday, at least fielding a larger sample of opening bids (e.g., $135 in the South, $212 to $214 in the North). Yet if higher asking prices of $138 plus in the South and $218 in the North stay firm, aggressive trade volume could be delayed until Friday. Live and feeder futures are geared to open some higher, supported by higher carcass values and ideas of seasonal strength just around the corner.