DTN Early Word Opening Livestock 12/09 06:06

DTN Early Word Opening Livestock 12/09 06:06 Lean Hog Futures Staged to Open Moderately Higher Hog futures seem likely to open moderately higher, boosted by spillover buying and constructive fundamentals. Look for the cattle complex to begin with mixed price action tied to a combination of residual selling interest and late-week short-covering. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: Mixed Live Equiv $126.49 + .06* Hogs: $1-2 HR Futures: 25-50 HR Lean Equiv $ 80.97 + .75** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Lower bids were successful in generating moderate movement in parts of the North on Thursday with most dressed steers and heifers marked at $170, $5 lower than last week's weighted average basis in Nebraska. Both sides will want to find a way to move more cattle Friday, especially in the South. Asking prices on stock still on showlists are around $112 live and $172 to $174 dressed. Live and feeder futures seem geared to open on a mixed basis thanks to follow-through selling on one hand and late-week short-covering on the other.