DTN Early Word Opening Livestock 03/28 05:59

DTN Early Word Opening Livestock 03/28 05:59 Hog Futures Are Set to Open Higher, Supported By New Hog & Pig News Look for lean hog futures to open solidly higher, supported by the general lack of expansion news contained in the March 1 Hog & Pigs report released on Friday. The cattle complex is staged to open some higher thanks to late-month short-covering and ideas of seasonally friendly fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 10-30 HR Live Equiv $150.27 - $0.78* Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv $ 79.99 - $0.20** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Activity in feedlot country Monday morning will be typically limited to the distribution of new showlists. We expect the fed offering to be about steady with last week. Although producers will be in no hurry to price ready steers and heifers, waiting to see if the board can stabilize in the wake of last week's sell-off, our guess is that early asking prices will be around $140 in the South and $220 to $222 plus in the North. Live and feeder futures should open moderately higher, boosted by short-covering and expectations of improving seasonal beef demand.