DTN Early Word Opening Livestock 05/30 06:18

DTN Early Word Opening Livestock 05/30 06:18 Meat Futures Staged For Mixed Opening, Higher Hogs and Lower Cattle Look for the cattle complex to open moderately lower, pressured by follow-through selling and bearish on feed report implications. On the other hand, lean hog futures should launch the week on a firm basis, supported by short-covering and ideas of seasonally improving fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv $159.25 - .45* Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv $ 95.58 - .06** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle buyers and sellers will naturally have ears cupped Monday morning for reports on the success of meat clearance over the long holiday weekend. Beyond such efforts, feedlot activity will be limited to the distribution of new showlists. Our guess is that the post-holiday offering will be somewhat larger than last week. Initial asking prices could be around $134 plus in the South and $212 plus in the North. Live and feeder futures seem likely to open moderately lower, checked by follow-through selling and further worry linked to the larger-than-expected April placement confirmed by Friday's May 1 Cattle on Feed report.