DTN Early Word Opening Livestock 05/27 06:08

DTN Early Word Opening Livestock 05/27 06:08 Cattle Futures Are Geared to Open on a Firm Basis Live and feeder futures should open solidly higher, supported by follow-through buying and technical optimism. Lean hog issues are staged moderately higher with the help of late-week short-covering and spillover buying. By John Harrington DTN Livestock Analyst Cattle: Steady w/Thurs Futures: 50-100 HR Live Equiv $146.52 - .74* Hogs: Steady-$1 LR Futures: 25-50 HR Lean Equiv $ 88.76 -1.46** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Although WTD trade volume totals in feedlot country are nothing to write home about, there's a chance that pre-holiday business is essentially done for the week. Light-to-moderate business surfaced Thursday at lower prices (i.e., mostly $125 in the South; some dressed deals at $197 to $198 in the North, $7 to $8 lower than last week's weighted average basis Nebraska). This could be especially true for the South. A final round of light to moderate trade could surface in the North before players check out for the long holiday. Unsold cattle seem to be priced around $128 in the South and $200 in the North. Live and feeder futures seem staged to open higher, supported by follow-though buying and the premium status of cash feedlot sales.