DTN Early Word Opening Livestock 05/12 05:56

DTN Early Word Opening Livestock 05/12 05:56 Expected Livestock Futures to Stage Mixed Opening Look for the cattle complex to open on a mixed basis thanks to residual selling on one hand and late-week short-covering on the other. Lean hog contracts should also begin with mixed prices tied to light bull spreading and profit-taking. By John Harrington DTN Livestock Analyst Cattle: Stdy w/Wed&Thurs Futures: Mixed Live Equiv $161.96 +1.37* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 87.12 + .73 * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Moderate cash business surfaced in the North Thursday (i.e., $137 to $138 live, $217 to $221 dressed), probably enough to satisfy most trading needs for the week. The South did pretty much what it had to do on Thursday. We could see a few clean-up deals here and there, but for the most part, look for the country to slip into the weekend. Unsold cattle still on showlists are probably priced around $140 live and $225 plus dressed. Live and feeder futures should open on a mixed basis thanks to a combination of follow-through selling and late-week short-covering.