DTN Early Word Opening Livestock 06/10 06:08

DTN Early Word Opening Livestock 06/10 06:08 Cattle Paper Set to Open Moderately Higher Live and feeder futures should open moderately higher, supported by stronger beef cutouts and feedlot cash premium. Lean hog contracts are likely to open on a mixed basis thanks to late-week profit-taking and inconsistent spreading. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv $148.29 + 1.46 * Hogs: Steady-.50 LR Futures: Mixed Lean Equiv $ 92.81 - 1.24 ** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Look for cattle buyers and sellers to come to terms sometime Friday, long enough to generate at least moderate trade volume. Opening bids should be around $203 to $205 in the North and $124 to $125 in the South. Asking prices should be restated at $210 plus in the North and $132 in the South. Our guess is that a significant market test will surface sometime between late morning and midafternoon. Live and feeder futures should open moderately higher, supported by short-covering, firming carcass values, and expectations of steady/firm cash sales.