DTN Early Word Opening Livestock 09/22 06:00

DTN Early Word Opening Livestock 09/22 06:00 Meat Futures Should Open Mixed, Higher in Cattle and Lower in Hogs The cattle complex is set to open moderately higher, supported by follow-through buying and ideas of firm cash sales. Lean hog issues should begin moderately lower, checked by residual selling and defensive fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv $127.54 + .64* Hogs: Steady-$1 LR Futures: 25-50 LR Lean Equiv $ 84.76 -1.60** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle buyers could start to kick more tires Thursday morning with renewed opening bids around $108 in the South and $168 in the North, miles below asking prices around $115 in the South and $176 to $178 plus in the North. If the board stays firm, significant trade volume may not surface until Friday, possibly not until after the release of the Sept. 1 Cattle on Feed report. Live and feeder futures are staged to open moderately higher, supported by follow-through buying and positive cash expectations.