DTN Early Word Opening Livestock 09/15 06:13

DTN Early Word Opening Livestock 09/15 06:13 Livestock Futures Staged for Mixed Opening On one hand, cattle futures should open moderately higher Thursday, supported by follow-through buying and ideas of higher cash sales. Conversely, lean hog contracts are likely to open under pressure, checked by residual selling interest and slumping cash business. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv $126.90 - .56* Hogs: $1-2 LR Futures: 50-100 LR Lean Equiv $ 87.27 + .56** * 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 short-bought and well-margined cattle buyers to start showing more interest Thursday with preliminary bids around $104 in the North and $163 to $165 in the North. Asking prices are around $110 in the North and $170 plus in the South. If the board continues to firm, feedlot managers will get tougher, possibly delaying the development of significant trade volume until sometime Friday. Live and feeder futures should open moderately higher, supported by follow-through buying and improving cash prospects.