DTN Early Word Opening Livestock 10/27 06:04

DTN Early Word Opening Livestock 10/27 06:04 Meat Futures Staged for Mixed Opening The cattle complex is set to open with uneven prices as traders position ahead of late-week cash activity. Similarly, lean hog contracts should start out on a mixed basis tied to a combination of short-covering and long liquidation. By John Harrington DTN Livestock Analyst Cattle: $1-3 HR Futures: Mixed Live Equiv $123.01 - .41* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv $ 78.09 - .38** * 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 should start to kick a few tires in the country Thursday, but they may not be aggressive enough to prompt significant selling interest until sometime Friday. Unless the board and/or the beef trade starts to cave big time, we expect feedlot managers to stand tall in terms of higher asking prices. Some cattle seem to be priced around $105 plus in the South and $165 plus in the North. Live and feeder futures are geared to open in a narrow range on both sides of unchanged as spec and commercials cautiously anticipate cash activity.