DTN Early Word Opening Livestock 10/28 05:59

DTN Early Word Opening Livestock 10/28 05:59 Lean Hog Futures Should Open Higher Thanks to Follow-Through Buying Expect hog contracts to open Friday moderately higher, supported by residual buying interest and the premium status of the cash index. On the other hand, look for cattle futures to begin with mixed prices as traders position ahead of the development of cash news. By John Harrington DTN Livestock Analyst Cattle: $1-3 HR Futures: Mixed Live Equiv $122.76 - .25* Hogs: Steady-$1 LR Futures: 50-100 HR Lean Equiv $ 78.38 + .29** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Essentially delayed until the eleventh hour, cattle buyers and sellers will need to find a way to generate at least moderate trade volume between now and nightfall. Packers should start out with bids around $103 to $104 in the South and $160 to $162 in the North. Asking prices will be restated around $105 to $106 in the South and $165 plus in the North. Live and feeders are staged to open a mixed basis thanks to a cautious combination of short-covering and profit-taking.