DTN Early Word Opening Livestock 12/02 06:10

DTN Early Word Opening Livestock 12/02 06:10 Meat Futures Staged for Mixed Late-Week Opening The cattle complex is likely to open on a mixed basis tied to residual selling on one hand and short-covering on the other. Similarly, lean hog contracts should begin with uneven pricing in slow volume. By John Harrington DTN Livestock Analyst Cattle: Stdy/fr w/Wed Futures: Mixed Live Equiv $127.33 + .18* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 79.38 + .99** * 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 developed in parts of the North Thursday with most dressed deals marked at $175, steady with Wednesday but $2 higher than last week's weight average basis Nebraska. While most business could be done for the week, another round of light trading could surface in Nebraska and Iowa. Unsold steers and heifers are priced around $116 plus in the South and $176 to $178 in the North. Live and feeder futures are set to open on a mixed basis thanks to a combination of follow-through selling and short-covering.