DTN Early Word Opening Livestock 03/01 06:19

DTN Early Word Opening Livestock 03/01 06:19 Live and Feeder Issues Are Set to Open Moderately Higher Look for the cattle complex to begin with a firm undertone, supported by follow-through buying and rising carcass value. Lean hog contracts should open on a mixed basis tied to lackluster profit taking and uncertain fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv $140.05 + $2.26* Hogs: Steady Futures: mixed Lean Equiv $ 87.33 + $1.49** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Market watchers should start to gather greater definition regarding the potential of the cash cattle trade at midweek. In short, look for more preliminary bids and asking prices. Eyes will also be focused on the internet auction this morning, hoping to get a better handle on bullish potential in the country. Our guess is that significant trade volume will be delayed until Thursday or Friday. Live and feeder futures seem geared to open moderately higher, boosted by residual buying interest and encouraging fundamentals.