DTN Early Word Opening Livestock 11/18 06:32

DTN Early Word Opening Livestock 11/18 06:32 Cattle Futures Set to Open Late-Week Business with Mixed Prices Look for live and feeder futures to open on a mixed basis as traders position ahead of the November 1 on feed report and take pre-holiday profits. On the other hand, lean hog contracts are geared to open moderately lower, checked by long liquidation and signs of struggling pork demand. By John Harrington DTN Livestock Analyst Cattle: Steady w/Wed Futures: mixed Live Equiv $122.97 - 0.27 * Hogs: Steady-$1 LR Futures: 25-50 LR Lean Equiv $ 77.31 - $1.90** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: More times than not, so it seems, the cash cattle trade keeps its powder dry until Friday with either buyers or sellers possibly both) painted into eleventh hour corners. Remarkably, this in not the case today thanks to aggressive business conducted at midweek. We could see a few clean-up deals surface here and there this morning, but for the most part necessary deal-making is done for the week. Whatever cattle remaining on showlists are priced around $110 in the South and $170-172 in the North. The November 1 on feed report will be released this afternoon at 2:00 CST. Average trade guesses anticipate the following: on feed, off 1 percent; played in October, off 4-5 percent; marketed in October, up 4 percent. Cattle complex should open on a mixed basis as traders position ahead of the on feed report and take pre-holiday profits.