DTN Early Word Opening Livestock 09/01 06:00

DTN Early Word Opening Livestock 09/01 06:00 Look for Livestock Futures to Begin With Uneven Price Action The cattle complex should open on a mixed basis linked to a combination of follow-through selling and short covering. Lean hog futures are also expected to open on both sides of unchanged thanks to light bull spreading and pre-holiday profit-taking. By John Harrington DTN Livestock Analyst Cattle: Cash Steady w/Tues Futures Mixed Live Equiv $133.26 - .43* Hogs: Cash Steady-$1 LR Futures Mixed Lean Equiv $83.42 + .59** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Given light to moderate trade volume totals through midweek, cattle buyers and sellers could still be interested in trading more inventory before breaking for the long holiday weekend (especially in the South). Yet, the wildly swinging board may discourage the late-week definition of bids and asking prices. Our guess is that steers and heifers still for sale are priced around $113-plus in the South and $177 to $178 in the North. Live and feeder futures are set to open on a mixed basis with spillover selling on one hand and short-covering on the other.