DTN Early Word Opening Livestock 10/13 06:10

DTN Early Word Opening Livestock 10/13 06:10 Cattle Futures Likely to Extend Losses on Opening Look for the cattle complex to open moderately lower, pressured by follow-through selling and defensive action in the boxed beef trade. On the other hand, lean hog futures should start out on a firm basis thanks to residual buying and greater cash stability. By John Harrington DTN Livestock Analyst Cattle: $2-4 LR Futures: 10-30 LR Live Equiv $123.47 - .80* Hogs: Steady-.50 HR Futures: 10-30 HR Lean Equiv $ 78.14 + .89** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Light to moderate trade volume surfaced in parts of feedlot country in Nebraska (i.e., $154 to $155 dressed, $4 to $5 lower) and Kansas (i.e., $98 live, $4 lower) at midweek. Asking prices are very hard to anticipate at this point. Light to moderate business should develop sometime Thursday or Friday. But where prices will sort out is on the board's ability (or lack of) recover over the next few days. Live and feeder futures seem geared to open moderately lower, pressed by spillover selling and struggling beef cutouts.