DTN Early Word Opening Livestock 03/02 06:21

DTN Early Word Opening Livestock 03/02 06:21 Meat Futures Likely to Open Moderately Higher Expect live and feeder futures to resume trading this morning with a firm undertone, generally supported by rising carcass value and cash premiums. Look for hog contracts to open some higher with the help of short covering and ideas of relative cash stability. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv $141.13 + $1.08* Hogs: Steady Futures: 10-30 HR Lean Equiv $ 87.01 - 0.32** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Depending upon actual trade volume generated in Kansas and Texas on Wednesday (check Mandatory totals at midday), it's possible that cash cattle trading in the South is done for the week. On the other hand, the North needs to do much more business. Look for regional bids to open around $196 dressed and $125 live. Asking prices are around $202 dressed and $128 live. Live and feeder futures seem set to open moderately higher, supported by follow-through buying interest and positive fundamentals.