DTN Early Word Opening Livestock 08/18 05:58

DTN Early Word Opening Livestock 08/18 05:58 Meat Futures are Geared Friday for Further Losses Live and feeder futures seem staged to open at least moderately lower, pressured by follow-through selling and sagging cash business. Lean hog contracts are also set to open on the defensive thanks to struggling fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady w/ Wed Futures: 50-100 LR Live Equiv $133.86 - .92* Hogs: $1 LR Futures: 50-100 LR Lean Equiv $ 97.50 + .42** * 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 trade volume developed in Kansas and Texas on Thursday with most steers and heifers marked at $110, $5 lower than last week. At the same time, scattered dressed sales in the North were reported at $173 to $175, $8 to $10 lower than last week. While we could see isolated pockets of clean-up trade Friday, chances are the lion's share of cash business is probably done for the week. Live and feeder futures should open at least moderately lower, checked by residual selling interest and further late-week long liquidation.